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Lunch & Learn Sponsored Projects SRAS Coordinator Responsibilities
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  1. Lunch & LearnSponsored ProjectsSRAS Coordinator Responsibilities Presented by: Roberta McManus

  2. Today’s Agenda • Current SRAS Coordinator Assignments • Knowledge Base • Award/Contract/Project Setup • Transaction Reviews • Invoicing • Reporting • Accounts Receivable Management • Closeouts • Future Events L&L Coord

  3. Compliance Coordinator Assignmetns • By department range - Handout • Structure: • Assistant Director • Team Leaders (2) – Garnet/Gold • Coordinators (6) • Accountants (2) • Each Coordinator manages between 100 – 200 projects L&L Coord

  4. Knowledge Base • OMB Circulars • A-21 • A-110 • A-133 • Federal Agency Specific Regulations • FSU Policies and Procedures • Advances • Budgeting and Re budgeting • Participant Support Costs • Program Income • Cost Sharing • Unallowable Costs • Cost Transfers • Fixed Price Residuals • Sub recipient Monitoring • Tuition Waivers • Everything else that applies • Accounting principles and standards L&L Coord

  5. Award/Contract/Project Setup • Award • Review • Terms and conditions • Financial provisions • Certifications • Human subjects – Research Participants • WAV codes – Interdepartmental Billings • Milestones • Financial reports due – Deliverables Met L&L Coord

  6. Award/Contract/Project Setup • Contract in OMNI • Type matches award • Drives how award is billed • Project • Budget in Commitment Control - Advances • Budget summary – Categories Matter • Cost share budget setup - Advances • F&A rate/base • Project Team – Transaction Approvals • Sponsored Projects Personnel Change Form • Status Dates (Begin/End) • Controls transactions • Spend date if don’t obtain Advance L&L Coord

  7. Transaction Reviews • Types of Transactions • Requisitions >=$1,000 • Expense reports >=$1,000 • Pay requests >=$1,000 • All non-duty stipend requests • All research participant payment requests • All journal entries • Cost transfer policy applies when moving charges onto/between a project • Interdepartmental requisitions (IDR) • Ensure rates current • All personnel appointments/actions • All subcontracts/subcontract invoices L&L Coord

  8. Transaction Reviews • Compliance Evaluation Criteria • Authorized Signature • Project Team Page - Handout • Chartfield Information • Dept ID, Fund Code, Project Number • Performance Period • Goods or Services received and consumed within Dates of Award period • Available Balance • Direct Cost Funds available for Expense by budget category • Equipment not originally budgeted • Account or Job Code • Appropriate for nature of expense • Allowable • Terms and Conditions support expense L&L Coord

  9. Transaction Reviews • Current Issues • Cost transfers that do not meet time requirements • Especially RDF’s (impacts effort reporting) • Monthly reconciliations • BTGL04 General Ledger Reconciliation training • “Urgent” transactions • Planning is important! • One-Time Pays (impacts effort certifications) • Not allowed for OPS employees on sponsored projects • No hours associated with OTP • Spending up available balance at end of project • Bonuses • Non Duty Stipends vs. Research Participants L&L Coord

  10. Invoicing • Cost Reimbursable Awards • LOC awards • Weekly • $1-4 million per cycle • 10 different systems • Monthly/Quarterly cycle • $2-5 million per month • Most generated directly from OMNI • Special invoice formats  • Electronic requests for payment • Supporting documentation (department’s responsibility when onerous) • Review categories to identify unallowable • Office supplies (no CAS) under $1,000 or P Card L&L Coord

  11. Invoicing • Fixed Price Awards • Monthly monitoring • On-Demand • Must have evidence of deliverable submission • Final Invoices • Notice when end date coming up • Encumbrances • Need to be liquidated or cannot be invoiced • Ledger reconciliation • Ensures all expenditures have been invoiced • PI request for sign off on final invoice/report • Due Dates • FL 45 days • Federal 90 days • After the end date transactions • Need to have been incurred during project period L&L Coord

  12. Reporting • Federal • FFR 425 quarterly reporting • Various due dates • NSF/DHHS huge • 15 smaller agencies • Annual reports generally • Quarterly ARRA – Helen McCann/Diana Key • PI Status • Other • NSF annual survey – important for ranking • Board of Governors annual report of expenditures • Annual SRTF financial statements • Schedule of Federal Financial Assistance • FL Department of Education annual cash reconciliation L&L Coord

  13. Accounts Receivable Management • Outstanding invoices • Maintain a log in project folder for monthly monitoring • Aging report generated • May enlist PI assistance if needed L&L Coord

  14. Closeouts • Starts with final invoice submission • Clear encumbrances (if needed) • Initiate transfer/return property • Final invoice submitted • Project Status = S Semi closed • Limits transactions • SRAS controls • Work financial issues until trial balance is clear • Project Status = C Closed • Transactions after closed • Reopen, evaluate, reclose L&L Coord

  15. Upcoming Events • Lunch & Learns • January 11 – Subcontracting • February 1 – Tuition Waivers • February 8 – Advances • February 29 – Basic Financial Management L&L Coord

  16. Roberta McManus Associate Director, SRAS 850-645-2485 rmcmanus@admin.fsu.edu L&L Coord

  17. Thank you for attending today’s session! HAPPY HOLIDAYS!!! L&L Coord