7 th Annual Post Award Workshop March 20, 2008

1. 7th Annual Post Award WorkshopMarch 20, 2008 Sponsored by: Vice President for Research Research Accounting

2. Goals/Objectives • Introduction to the Post Award Process • Provide information and links for future reference • Answer specific questions • Get to know each other

3. Research Accounting Staff487-2244 Julie Seppala, Director jhseppal@mtu.edu Tammy LaBissoniere, Assistant Director tklabiss@mtu.edu Stacey Corrigan, Senior Research Accountant Tom Holzberger, Assistant Research Accountant Federal Pass-Through, State Federal Pass-Through, Foreign & Foundation Project Setup & Close-Out Project Setup & Close-Out slcorrig@mtu.edutaholzbe@mtu.edu Kate Wells, Assistant Research AccountantKelly Kallio, Assistant Research Accountant Sponsored Billing, Industrial & Various Sponsored REF/Faculty Scholarship Project Setup & Close-Out Project Setup & Close-Out klshamus@mtu.edukmkallio@mtu.edu Christine Gruver, Office & Account Assistant Karen Foltz, Office Assistant Expenditure Review Support Staff cmgruver@mtu.eduksfoltz@mtu.edu

4. Sponsored Project Responsibilities • General Fiscal Responsibilities • Research Accounting • Principle Investigator (PI) • Department Chair/Director

5. General Fiscal Responsibilities • Every university employee • Compliance with university policies • Compliance with federal and other agencies policies • Should the expense be paid from public funds? • Checks and balances are needed at every level

6. Research Accounting • Establish Projects in accounting system • Review expenses for compliance • Prepare reimbursement requests • Assist PI in the financial close of projects • Collect outstanding receivables from sponsoring agencies

7. Principle Investigator (PI) • Management of expenditures • Appropriateness and reasonableness of expenditures • Initiation of budget and/or other modifications • Preparation of technical reports/deliverables • Review of monthly accounting statements • Review and approval of effort reports for each program

8. Department Chair/Director • Approve departmental cost share or matching • Monitor faculty and staff effort • Approval of substantial modifications to the award • Oversight of project administration by the PI

10. Facilities & Administrative Costs/Indirect Costs/Overhead Expense categories subject to F&A Expense categories not subject to F&A Equipment Tuition for GRA’s Sub agreements greater than $25,000 • Salaries and wages • Fringe benefits • Travel • Supplies • Services

11. Incentive Returns • Distribution • PI 6% • Dept 12% • College 7.3% • Institute/Center 34.7% • Deposited in E35 index, quarterly basis • Funds to be spent on items that enhance research and graduate studies

12. How to Read an Account Statement • Index number coding • Summary • Detail transactions • Payroll/labor distribution • Open PO

13. Index Number Coding • E2 & E34 – Sponsored • E35 – Incentive • E0 – Enterprise, Senior Design, Research Related Gifts • A1 – General Fund • D – Start Up, Unrestricted Gifts, Equipment Use

14. Budget vs. Actual by Account Code http://www.admin.mtu.edu/acct/dept/mtuonly/fygor501b2.pdf • Summarizes the project budget and expenses by category • Provides the balance of unspent funds for the index as a whole • Provides the start date, end date and applicable F&A rate

15. Detail Transaction/Organization Detail Activity http://www.admin.mtu.edu/acct/dept/mtuonly/fygor501b2.pdf • Provides individual transactions by the source document number • Travel, purchase orders, check request, etc. • Used to verify all transactions were expected

16. Open Purchase Order/Open Encumbrances by Dept and Financial Manager http://www.admin.mtu.edu/acct/dept/mtuonly/fygor501b2.pdf • Provides a listing of all outstanding purchase orders (PO’s) • Used to verify that all PO’s listed were expected

17. Labor Distribution/Gross Earnings Payroll Expense http://www.admin.mtu.edu/acct/dept/mtuonly/fygor501b2.pdf • Provides listing of all the individuals compensated/paid • Used to verify that all individuals listed were expected

18. How You Receive Your Award & Index Number • RSP receives paperwork • PI & RSP review the term & conditions • RSP routes for authorized signatures • RSP routes fully executed award to PI & RA • RA sets up index number in Banner • RA informs PI & Dept Coord. the index # • Multiple index numbers may be assigned

19. How to Spend Your Funds • Questions to ask before spending • Payroll forms • Non-Payroll Forms

20. Questions to Ask Before Spending • Are there enough funds available? • Is the expense within the start and end dates? • Is the expense allowable?

21. Payroll Forms • Faculty – Change of distribution form • Faculty – Employee change status form • GRA – Pink status form

22. Non-Payroll Forms • Purchase order • Procurement card • Travel Voucher

23. Allowable Costs • Unallowable costs • Prior approval from the sponsor • Budget flexibility

24. Unallowable Costs • General purpose office supplies: • Paper • Printers • Printer cartridges • Copy charges • Telephone charges • Postage • General purpose computers • Tuition for GRA’s is allowable only when the student is receiving stipend from that same award

25. Prior Approval From the Sponsor • Equipment purchases require prior approval from the sponsor if the equipment was not originally budgeted or disclosed in the proposal budget or budget justification • Other prior approval restrictions will be noted on the activity sheet

26. Budget Flexibility • External/Sponsor dictated budget constraints will be noted on the activity sheet • Internal budget flexibility is normally 25% variance of the budget category • Internal budget modification guidelines

28. Thank You for Attending • Call 487-2244 if you have any questions • Please fill out the evaluation form • Refer to our website at: http://www.admin.mtu.edu/research/vpr/research_accounting/index.html • THINK SPRING!!! IT HAS TO COME SOMETIME