POST AWARD FISCAL COMPLIANCE: WHO WE ARE AND WHAT

Transcript:POST AWARD FISCAL COMPLIANCE: WHO WE ARE AND WHAT:
POST AWARD FISCAL COMPLIANCE: WHO WE ARE AND WHAT WE DO Assisting campus and central administrative units with information, training, and advice to mitigate the risk of non-compliance with sponsor terms and conditions. Two-person team Matt Gardner, Assistant Director TBH, Compliance Analyst Central email contact: gcafco@uw.edu Website: https://finance.uw.edu/pafc/ About Post Award Fiscal Compliance (PAFC) Monitor compliance with federal, state, and UW policies, as well as other Sponsor terms and conditions Interpret Award requirements Provide post award fiscal compliance training to the University Work with departments to examine and enhance internal controls Cost Share subject matter experts Consult with departments on any topic related to fiscal compliance What does PAFC do? UW Finance at a Glance UW Finance Research Student Accounting (RSA) Financial Accounting Enterprise Services Treasury MAA RCO GCA Cash Mgt SDA PAFC SFS C2 Data Grp ISC Procmnt. Public Rcds Rcds Mgmt Banking & Acctg EIO Fin. Rptg Merchant Svcs Asset Mgmt Forecasting Ops Admin Cash Gov. UW Office of Research at a Glance UW Office of Research Office of Sponsored Programs (OSP) Export Controls Research Compliance Human Subjects Division CORE Finance and Reporting ORIS Animal Care UW Governance Office of the President Office of Research UW Finance Provost and Executive VP All costs charged to a sponsored award must be: Reasonable: Is the cost necessary? Is the price paid comparable across vendors/sources? Are costs consistent with established policies? Allocable Does the cost benefit the objectives of the award? Was it incurred during the period of performance? Allowable Is the cost permitted under the sponsor’s regulations, terms, conditions, or UW policy? Consistently Treated Is the cost consistently treated as a direct or indirect expense? The Cost Principles Costs cannot be charged to an award for “budgetary convenience” – i.e. in order to “spend down” remaining funds. Certain costs are considered “high risk” and scrutinized heavily by auditors: Food Equipment purchases in the last 90 days Travel Cost transfers Cost Principles - Continued Read your Award document and understand the sponsor’s terms, considitons, and/or regulations Establish and document Department’s internal controls Roles and responsibilities Separation of duties Expenditure review and reconciliations Documentation Ask for assistance, if needed… PAFC, OSP, or GCA Compliance Tips If your question relates to a specific Award, please provide a UW budget or an eGC1 number Many questions can only be answered in light of a specific sponsor or award terms and conditions One-business day turnaround