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Subaccounts— What are they and how to prepare

Subaccounts— What are they and how to prepare. Jamie Young Office for Sponsored Research Chicago Brown Bag December 17, 2013. Pooled/Subaccounts. Pooled Accounts (G Pooled) Previous method where NIH grant funding was awarded into a single “pooled” account

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Subaccounts— What are they and how to prepare

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  1. Subaccounts—What are they and how to prepare Jamie Young Office for Sponsored Research Chicago Brown Bag December 17, 2013

  2. Pooled/Subaccounts • Pooled Accounts (G Pooled) • Previous method where NIH grant funding was awarded into a single “pooled” account • Grantees would draw down a lump sum payment from the HHS based on the cumulative expenses for a given time frame (NU did this on a weekly basis) • The funds were then distributed to the individual accounts internally • Subaccounts (P Subaccount) • Each award is given its own account, or “subaccount” • Grantees will draw down payment on an account by account basis per the expenses applied for a given time frame • Same methodology used for the ARRA awards

  3. Why the change? • The change has been mandated—by the U.S. Department of Health and Human Services (HHS) and is intended to enhance financial data integrity and financial closeout for all awards • Better accountability—Subaccounts will provide both Grantees and NIH the ability to better track expenditures and remaining balances for a distinct research project

  4. In FY14—Any competitive segment issued this year, e.g., new and competing renewals, will be awarded as a Subaccount (P) No real change from the department perspective ASRSP will modify how the draw is done on these projects Example from a recent NOA: Transition Schedule Fiscal Information: CFDA Number: 93.242 EIN: 1362167817A1 Document Number: RMH102478A PMS Account Type: P (Subaccount) Fiscal Year: 2014

  5. Starting in FY15, all non-competing awards whose current cycle started prior to FY14 will transition from the Pooled (G) Accounts to Subaccounts (P) Review the NOA for the FY14 budget period—usually found on page 2 or 3 of the NOA—if issued as a pooled award and a continuation award will be issued in FY15, the FY15 NOA will be issued as a Subaccount FY15 NOA will be issued as a type 4 award This will effectively break the current cycle into two segments An FFR will need to be done on the first segment New Chart String established for the second segment Transition Schedule, Con’t Fiscal Information: CFDA Number: 93.855 EIN: 1362167817A1 Document Number: RAI105839A PMS Account Type: G (Pooled) Fiscal Year: 2014

  6. Identify the accounts that will transition in FY15 Monitor, track expenses, and prepare for close out at the end of the FY14 budget year If you have outgoing subs, the final invoice for this year will need to be received in a timely manner (within 45 days) ASRSP will have 90 days to submit the FFR for the first segment More information on NU’s transition plan will be forthcoming on the OSR listserv How to prepare

  7. Guide notice NOT-OD-13-120 http://grants.nih.gov/grants/guide/notice-files/NOT-OD-13-120.html FAQs on Payment (Payment Management System Subaccount) http://grants.nih.gov/grants/payment/faqs.htm Related Links

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