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Lunch & Learn Sponsored Research Basic Financial Management. Today’s Agenda. Sponsored Research Resources Federal OMB Circulars Sponsored Research Financial Policies Spending Funds SRAS Transaction Review OMNI Overview Available Balance in OMNI OBI Reports Upcoming Events.
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Today’s Agenda • Sponsored Research Resources • Federal OMB Circulars • Sponsored Research Financial Policies • Spending Funds • SRAS Transaction Review • OMNI Overview • Available Balance in OMNI • OBI Reports • Upcoming Events
Web Resources(Bookmark these websites) • Office of Researchhttp://www.research.fsu.edu/ • Division of Sponsored Researchhttp://www.research.fsu.edu/contractsgrants/index.html • Staff Contact Information • Policies and Procedures • Forms • Funding Resources • Email/Newsletter Services (we recommend registering for these list serves) • Training Information • Sponsored Research Accounting Services http://www.research.fsu.edu/sras/ • Compliance Resources
Web Resources (Bookmark these websites) • Controller’s Office http://www.vpfa.fsu.edu/control/ • Departmental OMNI Queries • General Accounting • Payroll Services • Property Accounting • Travel • Office of Graduate Studies http://gradstudies.fsu.edu/ • Tuition Waiver Information (Funding & Awards) http://www.gradstudies.fsu.edu/Funding-Awards/Tuition-Waivers-and-Fees • Tuition Waiver Policies and Procedures • Have to log into Blackboard
Web Resources(Bookmark these websites) • Purchasing http://www.purchasing.fsu.edu/ • Human Resources http://hr.fsu.edu/ • OMNI Service Center (Help) • Newly implemented CRM system • Module within OMNI • OMNI Potal • FSU Service Center • OMNI Training http://omni.training.fsu.edu/ • OMNI/System Access information http://omni.training.fsu.edu/OMNI-Human-Resources/OMNI-Security
SRS AKA Pre-Award Funding Opportunities Proposal Review & Submission Cost Share Approval Award Negotiation & Execution Award Generation Amendments Final Technical/Inventions Reports SRAS AKA Post-Award/ C&G - Accounting Project (inc Cost Share) Budget Setup/Contract Setup Transaction Review and Approval Rebudgeting Billing and Financial Reporting, including Final Financial Reports
Federal OMB Circulars • OMB Circular A-21 • Cost Principles • Direct vs. Indirect • Cost Accounting Standards • OMB Circular A-110 • Administrative requirements/systems • OMB Circular A-133 • Audit requirements • Flows down to subcontractors • Cost Accounting Standards • DS-2 Statement • Describes FSU’s costing practices
Sponsored Research Financial Policies/Procedures • http://www.research.fsu.edu/contractsgrants/policypro.html • Advances • Participant Support Costs • Program Income • Cost Sharing • Unallowable Costs • Cost Transfers • Fixed Price Residual Funds • Sub recipient Monitoring • Sponsored Research Email Notices • http://www.research.fs.edu/contractsgrants/subscribe.html
Spending Funds • Personnel Costs Encumbered– HR/Payroll • Graduate Waivers – Graduate studies • Not encumbered • Non Personnel Costs • Purchasing Encumbrances – SR Exemption • Accounts Payable • Unencumbered Payments • Non-Duty Stipends • Research Participant Payments • Travel/Expense Reports • Journal Entries – General Accounting • Interdepartmental Requisition (IDR)
SRAS Transaction Review • All personnel appointments • Including Retroactive Distribution of Funding (RDF) transactions • Cost transfer policy applies when moving charges onto/between a sponsored project! • Requisitions >= $1,000 • Expense reports >= $1,000 • Pay requests >= $1,000 • All stipend requests – spreadsheet uploads • All journal entries • Cost transfer policy applies when moving charges onto/between a sponsored project • Interdepartmental requisitions (IDR) >= $1,000 • Automated uploads not reviewed by SRAS • All subcontracts/subcontract invoices
Compliance Evaluation Criteria • Chartfield Information • Dept ID, Fund Code, Project Number • Authorized Signature • Sponsored Project Manager or PI • Co PI – PI must authorize expenditure approval • Performance Period • Goods or Services received and consumed within Dates of Award period • Available Balance • Direct Cost Funds available for Expense by budget category line item • Account or Job Code • Appropriate for nature of expense • Allowable • Terms and Conditions support expense • Reasonable and Necessary • Allocable – amount charged benefited project proportionally
OMNI Ledgers Actuals Projects Commitment Control • Updated Nightly • F&A Calculations • SRAS Invoices and Reports • Updated Nightly • Official book of record • Monthly Ledgers • Real Time • Budget Checking
Parent Direct Child 700001 Indirect Child 780300 Cost Share Child 700001 “Child” Budget Checking The “Child” must have sufficient available balance for a transaction to “pass” budget checking
Available Balance in OMNI • Commitment control ledger (KK) • Real time ledger • Transactions post to KK as budget check runs • Project ledgers • KKGMPAR (Total Budget) • KKGMCHD (Direct/Indirect/Cost Share) • Available Balance Instructions – See Job Aids • Queries available: • FSU_SP_KK_DTL_EXP_PROJ • FSU_SP_KK_DTL_ENC_PROJ
OBI Reports • Balances are one day old • Running HR/GL Detail OBI report • Provides employee data for a particular payroll period • Can look up by dept. ID, fund, project, employee and/or journal ID • Job Aid at http://omni.training.fsu.edu/ under OBI Reports • Encumbrance detail for personnel • Run query FSU_ENCUMBRANCE_DETAIL_BO
Upcoming Events • Lunch & Learns (now certificate series!): • Award Negotiation & Processing, October 12 • Advanced Financial Management, October 19 • FACET Summer Cycle Opening – October 7 • Training will be offered soon! • CReATE – November 3-4 • On-site Training Available • You name the topic! • We will show up!
Roberta McManus Associate Director, SRAS 850-645-2485 rmcmanus@admin.fsu.edu