Congratulations - You Have a Grant! Now What?!

1. Congratulations - You Have a Grant! Now What?! Help! I need Help!!

2. First steps • Applying for funding is step 1 (but not the end of the process!) • Receiving an award is next (yay!) • Learning how to manage the administrative aspects of your funded project is also next! • What are the rules? To whom do you go to ask for guidance? What are my responsibilities as Principal Investigator/ Project Director / Department?

3. First steps • Before applying for funding, know the program guidelines. They usually contain the basic ‘rules’ or references to where to find the ‘rules’ for administering your project. • Sponsored Programs staff will work closely with you at this stage, and can assist in interpreting guidelines.

4. First steps • Federal agencies usually have their own guidelines, as well as a requirement to adhere to general federal guidelines for grants administration. • Private foundations have varying levels of resources – from detailed to not much! • Corporate/Industrial sponsors have guidance incorporated into a Sponsored Research Agreement, developed jointly with the Sponsored Programs office.

5. First steps • When funding is received, Sponsored Programs reviews the documentation carefully. • Federal award notices typically follow standard formats per each agency and/or funding office within an agency • Other funders have various types of award documents – from a letter to a multi-page agreement with several terms and conditions

6. First steps • Finalized agreement + completion of compliance obligations (human/animal subjects, etc.) = ready for a fund request • Sponsored Programs staff prepares a spending plan and a funding request and submits it to Grants Accounting along with awards documentation

7. First steps • Grants Accounting reviews the information, assigns an index number with corresponding fund, org & program codes for the sponsor’s funds, enters the budget information in Banner, and assigns a Grants Accountant to the project. • Numbers are assigned to cost-share funds as well, if applicable. • The PI and other University stakeholders then receive a copy of the completed fund request/spending plan.

8. First steps • The completed fund request email contains important guidance for administering your grant: - references to the fund request & spending plan; - references to your responsibility as PI; - hyperlinks to the Grants Management Manual - Lastly, where to go for different types of questions

9. An Aside – Sponsored Programs and Grants Accounting - What’s the Diff? • The Roles and Responsibilities section of the Grants Management Manual has more detailed info. In short: • Sponsored Programs is a unit of Research and Sponsored Programs and assists the PI with the implementation and management of the funded project. • Grants Accounting is a unit of the Controller’s Office and oversees the accounting and financial management aspects of grants and contracts for all eight Kent State campuses.

10. The funds are ready to spend – now what? • Again, review the guidelines, the proposal (what did I say I’d do?) and award documentation carefully. • Grants Management manual sections will provide guidance on how to hire personnel, post charges to your grant index, general rules that apply, plus some context for ‘why do I have to do all of this anyway?? What can’t I just get a check and spend the money?’

11. The funds are ready to spend – now what? • Sponsored Programs and Grants Accounting will now begin offering joint conference calls for new PIs, to get them started on what to do. • If your campus/college/department has a grants person, they are a resource for what to do. • Better to ask questions if anything is unclear!

12. While the project is underway • Frequently, administrative aspects of projects need adjusting – budget changes, more time, etc. Sponsored Programs staff can assist with these. • Periodic financial and programmatic reports are frequently required. • Grants Accounting will oversee financial reporting and Sponsored Programs will send reminders and if needed, assist with progress reports.

13. Resources for monitoring financial data

14. Grant Budget Summary Report

15. Grant Budget Summary Report

16. Grant Budget Summary Report

17. Grant Budget Summary Report

18. Grant Budget Summary Report

19. Using the Grant Budget Summary Report • Verify budget in total and by account code • Review expenditures monthly: • Missing expenses? • Expenses that do not belong? • Monitor remaining balances by account code and in total • Subtract indirect cost balance from available balance for true remaining balance available

20. Be Proactive • Process salary paperwork to assign personnel to the grant (EPAF, salary redistribution form) • Cost transfer forms to correct expenses • Contact your grant accountant with any questions about expenditures

21. What happens if I don’t follow the rules (either accidentally or on purpose) • All sponsored projects are subject to audit by various entities. • A determination of non-compliance can result in fines, repayment of funds, debarment, or sometimes jail! (depending on the infraction).

22. Audit Notifications • On-site visits, desk reviews, requests for financial data • Contact your grant accountant and the Sponsored Programs office immediately • Forward all documentation regarding audit requests to your grant accountant

23. Parting tips on managing your funding successfully! • Know your guidelines and project objectives. • Look over your award documentation. • Look over grants management manual sections to familiarize yourself with general ‘rules’ and processes. • When in doubt, talk to your grants contact person and/or Grants Accountant or Sponsored Programs contact!

24. Resources • Research and Sponsored Programs: https://www.kent.edu/research#resources#resources • Grants Accounting: http://www2.kent.edu/controller/grantsaccounting/index.cfm

25. Questions? Bev Robertson / Sponsored Programs • brobert1@kent.edu • 330-672-0711 or 330-672-2070 Mike Login / Grants Accounting • mlogin@kent.edu • 330-672-8999