Daily Management of Awards

1. Daily Management of Awards Tamara Hill, Manager, Office of Grants and Contracts Administration, University of North Carolina Charlotte Jennifer Crockett, Director, Sponsored Projects Finance, Columbia University

2. Overview Best Practices for Managing Awards Pre-Award Post-Award Close-Out Ongoing Compliance Concerns Tips and Tools Training

3. Pre-AwardReceipt of Award Proposal Preparation Set up Account Project Budget Notify Faculty Award Negotiation Audit Compliance with terms & conditions, Federal regulations • Post Award • Project accounting • Transaction review • Cash Advances • Billing Reimbursements • Receivables/Collections Financial Reporting Award Cycle • Project Close-out • Terminate account • Submit final reports

4. Policies and ProceduresRoles and Responsibilities Institution

5. Pre-Award • Proposal Preparation • Deadlines (RFA, RFP, PA, Non-Solicited) • Agency Guidelines • Budget Projections • Negotiations

6. Receipt of Award • Review Awarding Instrument • Prior-Approval Requirements • Budget Restrictions • Carry-over limitations • Establish Account • Notify all Involved Parties

7. Managing the Award • Spending • Personnel • Cost Sharing • Allowable vs. Unallowable (OMB Circulars) • Subcontracts • Procurement Cards

8. Managing the Award • Monitoring Subcontractors • Approving Invoices • Prime is responsible for the subcontractors performance • PI MUST approve the payment • Verify the Math • Look for Obvious Errors • Site Visits

9. Managing the Award • Procurement Cards • Enforce Written Policy • Documentation • Using Sponsored Projects Account as Default • Set Dollar Limits • Audit Frequently

10. Managing the Award • Verifying Expenditures • Documentation • Cost Transfers • Grant Reports (to Faculty)

11. Project Close-Out • Terminate Spending • Final Reconciliations • Submission of Reports • Financial • Technical • Invention Statements • Property Reports

12. On-Going Concerns • Foreign Travel • Budget Reallocations • Supplemental Request to Awards • Cost Sharing Documentation • *Effort Reporting • *Audits

13. On-Going Concerns -Effort Reporting • Importance in Audits • Accurate the first time • PI’s Review • Signed and Reported Timely

14. On-Going Concerns - Audits • Auditors test for: • Unallowable Costs (focus on cost transfers) • Documentation to Support the Charges to the Award • Reasonableness and Allocability of the charge • Program Income • Timeliness of Reports

15. On-Going Concerns - Audits • Keys to a Successful Audit • Organized Files • Documentation for Expenses • Appropriate Approvals • Audit Trails • Knowledge of Policies and Procedures

16. On-Going Concerns - Audits • Auditor Management • Don’t Ramble or provide additional information – give short, concise answers • Always accompany the auditors when they visit the PI • Keep track of all questions and responses

17. Training • The key to ensure proper management of sponsored projects is training of all personnel • At minimum topics should include Circulars and Institutional Policies & Procedures • Should be Offered Consistently and Frequently • Can be formal and informal (i.e. brown bags vs. workshops) • External training opportunities (i.e. NCURA, SRA, Sponsor offerings)

18. QUESTIONS??

19. Contact Information: Jennifer Crockett Columbia University jcrockett@columbia.edu Tamara Hill University of North Carolina Charlotte thill55@uncc.edu