Grave Closeout Cradle to Grave Federal Financial Report FFR 2 SPSS reviews the grant prepares the FFR draft and emails the FFR draft to the department within 30 days of the budget end date ID: 298822
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Grant Cradle to Grave - CloseoutSlide2
Cradle to Grave: Federal Financial Report (FFR)
2
SPSS reviews the grant, prepares the FFR draft and emails the FFR draft to the department within 30 days of the budget end date.
SPSS and the department will work together in reviewing the FFR draft and preparing the reconciliation worksheet.
If the FFR is a final report, the grant will need to be closed before its is submitted to the sponsor.
For SOM, the rolling 12 month on-time rate has increased from 47.8% in 2012 to 63.2% in 2013 to
81.0% 2014
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FFR: Rev-
Exp
Summary Report & Worksheet
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Run a Rev-
Exp
Summary Report from Business Warehouse (BW).
Sponsored Projects --> Transaction -->
Rev-
Exp Summary Hint: Remember to exclude revenue sponsored classes (4*) and cost sharing sponsored programs (98*)Slide4
FFR:
F&A Analysis
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F&A Analysis is performed for the project period and the current periodSlide5
FFR:
Draft FFR
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SPSS will email the department the Draft FFR within 30 days of the budget end dateSlide6
FFR:
Reconciliation Worksheet
Run a
GM Actuals
Report from
BW. Sponsored
Projects --> Transaction -->
GM Actuals
Run a Summary of Gross Salary (Combined) Human Resources--> Finance Admin --> Summary of Gross Salary (Combined)
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FFR: Final FFR Closeout
If the FFR is a final report, the grant will need to be closed before its is submitted to the sponsor
. To close a grant, the following must occur:
Both Expenses and Billed Revenue (Cash Collected + Open Receivables) equal final amount on the FFRThe correct amount of F&A is applied the grantAll open encumbrances are cleared from the grant
***The process of removing an open encumbrance may take a view days, please review all open encumbrances when a final FFR draft is received to ensure the FFR is submitted on-time***
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Due 90 days following the expiration or termination of support
Processed through Commons by
PI
Tech Transfer reviews for accuracySubmitted by Authorized Official
Final Invention Statement and CertificationSlide9
Questions
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