Contracts and Grants

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Contracts and Grants




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Presentations text content in Contracts and Grants

Slide1

Contracts and Grants

Main Campus PresentationDecember 5, 2012

Financial Services Center

Slide2

Contract & Grant Accounting is the central office responsible for overseeing the financial compliance requirements stipulated within the sponsored award to the University based on a proposal submitted from the PI.

Department Overview

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Interpret UNM, Federal, State, and sponsor policiesSet up award and budget in BannerMonitor expenditures for complianceReview EPAFs, Labor Redistributions, Requisitions, JVs, and DPIsProcess petty cash transactions Create and submit invoices to sponsors (including collections)Process automated draws (payments)Apply payments to awards (checks and wires)Review and process sub-award invoices (incoming invoices)Generate and track Effort ReportsReview and track carry-over requests submitted by PISubmit Financial ReportsSubmit Invention Statements and Equipment/Inventory ReportsClose awards in Banner and with sponsorRespond to audit requests

Department Overview, cont’d

Slide4

Contract & Grant and General Banner FormsBusiness PurposeCost Transfers90 day MemosSalary Transfers

Agenda:

Slide5

What NOT to ChargeRetention Policy

Agenda, cont’d:

Slide6

Useful Banner FormsSpecific to Contracts and Grants

FORM

USED FOR

FRAGRNT

Identify PI, Fiscal Monitor, other grant info. Find copies

of UNM invoices and payments in

Xtender

.

FTMACCI

Use to find the fund number associated with an

index

.

FRMFUND

View the budget start and end dates of a fund.

FRIGITD

Show

grant budget and expense information. Similar to FGIBDST for unrestricted indexes.

Slide7

Useful Banner Forms

General

FORM

USED FOR

FOADOCU

Status of documents you have created. Disapprove your documents.

FOAAINP

Status of documents awaiting approval.

FOIAPPH

Look up history of processed

documents.

FGIDOCR

View detail for posted JVs.

FOIDOCH

Show

history of vendor invoices,

date paid, and check number.

Slide8

FRAGRNT

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FRAGRNT

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FRAGRNT

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FTMACCI

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FRMFUND

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FRIGITD

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FRIGITD

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FRIGITD

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FRIGITD

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FRIGITD

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FRIGITD

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FOADOCU

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FOAAINP

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FOIAPPH

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FOIAPPH

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FGIDOCR

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FOIDOCH

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FOIDOCH

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FOIDOCH

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Always requiredEssential on Contract or Grant purchasesJustifies the expenseDocuments the expense in layman’s terms

Business Purpose

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A business purpose is required on a DPEZ, JV, Pcard Exception, Requisition, or Labor Redistribution:NOT ONLY “what I bought (or redistributed)”But ALSO “Why I bought (or redistributed) it”WhoWhat WhereWhyJustify

Business Purpose

Slide29

Good example for an Invoice:“Purchase reactant for Dr. Smith to complete final experiments on grant so conclusions for grant can be finalized.”Weak / Unacceptable example: “To spend down the remaining grant funds.”

Business

Purpose – Examples

Slide30

Weak / Unacceptable example for a JV:“Move expense to correct index”Good example:“Move Joe Smith’s SW air travel (S07564) to attend a seminar on the grant-related topic, how to hydrolize FSQ with greater accuracy, attended 7/12-16/2012 to the grant index”

Business

Purpose – Examples

Slide31

Items must be:Of reasonable costAllowable on the awardAllocable to the awardBe transferred when identifiedIdeally within 90 daysNote: transfers within the last 90 days of the budget period are highly scrutinizedCan anyone guess why?

Cost Transfer Policy

Slide32

Required if an expense has not been properly allocated to a grant within 90 calendar days from original transaction dateIncludes Business Purpose for the transactionMemo includes an explanation - why did this late entry happen?This is preventative - explain how this is NOT going to happen again

90 Day memo

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Must also meet ALL of the Cost Transfer requirements!If later than 90 days, a 90 day memo is still requiredAdditionally:Total salary must be an accurate reflection of work performed on the projectBusiness Purpose must indicate name of person who requested the transfer (with signature authority)Department must maintain supporting documentation in their filesReminder: payroll records are locked when effort is certified

Salary Transfers

Slide34

Items included in “F&A” are generally not allowed as direct costs on awardsExamples may include:Administrative and clerical salariesCopier paper and tonerGeneral office suppliesTelephone line and cell phone charges

What NOT to Charge!

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OMB Circular A-21 explains in more detail. In general:On a “Major Project” direct administrative and/or clerical salaries may be appropriateThese are large, complex programsProjects that involve extensive data accumulationProjects that are geographically inaccessible to normal departmental administrative services

And Some Exceptions…

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Grant retention policies vary; READ YOUR CONTRACT OR GRANTPayroll does NOT keep copies of timesheetsThis is a department responsibilityThe years of retention required begin AFTER the final financial report is acceptedIf a 3 year grant ends in June of 2014 and has a 7 year retention policy, you must keep original source documents until:

Know your Retention Policy

2021!

Slide37

HSC Contract and Grant Accounting Website: http://hsc.unm.edu/financialservices/cga/ Main Campus Contract and Grant Accounting Website: http://www.unm.edu/~cgacctng/ UNM Cost Transfer Policy-2450: http://www.unm.edu/~ubppm/ubppmanual/2450.htm Cost Transfer Justification Memo template: http://hsc.unm.edu/financialservices/CGA/Forms.shtml Unrestricted Accounting, Main: http://www.unm.edu/~gacctng/

Resources

Slide38

Any Questions?


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