Post-Award Roles and Responsibilities of Managing and Closing an Award
Managing a Sponsored Award is a collaborative effort between departmental staff, PIs and Sponsored Research Administration (SRA). Working together provides dual benefits, compliance and research.
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Principal Investigator
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- Assures appropriateness, reasonableness and allowability of expenditures
- Manages expenditures to not exceed available award balance
- Reviews and certifies effort reporting in FACET as required
- Initiates requests for rebudgeting and cost transfers
- Approves payment of subcontractor invoices
- Reviews interim financial reports provided by SRA as required
- Submits deliverables/progress and or technical reports
- Ensure cost share requirements have been met
- Verify subrecipients have completed their work and invoices have been submitted
- Certify final expenditures
- Forward any audit requests received to SRA
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Department Staff
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- Work with the PI to assure appropriateness, reasonableness and allowability of expenditures
- Prepare rebudgeting documents and submit to SRA for approval
- Provides oversight of sponsored project administration, including cost transfers and effort reporting
- Notify SRA of time extension requests
- Clear outstanding encumbrances at closeout of award
- Verify all expenditures have posted correctly
- Prepare documents to transfer property to another funding source
- Retains technical and financial information related to sponsored awards
- Work with SRA to collect audit documentation when requested
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Sponsored Research - Post-Award
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- Review expenditures over $1,000 threshold, monitor expenditures categories, review and approve all personnel action forms
- Review and approve/deny all cost transfers
- Prepares and submits financial reports and invoices to sponsors as required
- Draw funds on letters of credit and reconciles accounts as required
- Notifies departments of upcoming sponsored awards that are closing
- Facilitates the Subaward closeout process
- Prepare journal entries to transfer over-runs to another funding source
- Submits Final Financial Reports
- Returns funds to agency as necessary
- Submit Property Reports
- Financially closeout sponsored awards in the accounting system
- Retains financial records
- Organize audit documentation and respond to audit requests
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