Katrina Torres, Program Director, Diagnostic ImagingInterventional Radiology and Nuclear Medicine

Post- Award Session

� Agenda� What to expect? ü How to be an effective communicator?ü How to build collaboration within your department internally and

externally?ü Award Setup, Spending, monitoring, and reportingü Be effective as a research and financial LEADER in your department.

Overview

� Overview� Communication- Strategies� Award Setup� Compliance checklist and Policy� Spending- Award Management � Reconciliation� Summary� Next steps- Progress Report

Agenda

� Organization� Information� Documentation

� Sponsor� Information � Documentation

� Steward (PI)� Information � Documentation

� Collaborators� Information � Documentation

Communication:Who’s involved? What are their needs?

� Office of Sponsored Programs� Legal Services� Grants and Contracts Accounting� Research Finance� Division- Audit; Internal Controls� Department

* Please check your Institutional Policies and Procedures

Organization: Stakeholders Clinical Research Research (Animal or

Lab)Clinical Research Finance Office of Research

AdministrationOffice of Research Administration

IACUC

IRB COICOI

� How do I spend the money?� Budget per category?� Who can I pay? Personnel and subcontractor� When can I order equipment?� Can I re-allocate funds?� I want to start my project yesterday!� Communicate- good stewards, be efficient, accurate, and honest.

PI: Stakeholder

� Strict guidelines of what expenses are allowable?- Travel, Indirect costs, fees

� Overspending� Underspending� Transparency with faculty� Trust

Communication: Impacts?

� Seek best outcome� Plan your meeting� Acknowledge and Ask� Active listening

• Harvard Business Review, Rebecca Knight 2015

Communication: Strategies

� Good stewards� Be efficient� Accuracy� Know what is allowable� Follow guidelines� Ask if you don’t have the answer

� Ask sponsor� Ask within organization

Communication:Responsibility

� Communication� Discuss strategic plan who is involved� Create timeline or map � Award terms and budget� Personnel= largest expense� Accounts� Begin research� Process, Monitor or reconcile project, supervise and approval of

expenses� Budget amendment

Communication:Planning Activity

� PI – notifications� Grants and Contracts- official

notification� Contract Negotiations � Compliance Review� Advance Setup� Fully Executed Contract- Award

setup complete

Award Setup

� Department-� Review award� Take note of special terms� Review budget received vs budget proposed� Subcontracts� Notify Grants and Contracts of changes

� Grants and Contracts� Reviews budget with revisions� Asks for delegation of duties (signers, receivers, reconcilers, PI)� Enters budget into accounting system and creates account #. � Commitment control- effort confirmed

� Dual collaboration- once approved… SPEND!!!!!!� Subsequent years may require updates too.

Award Setup – Award Received

� If Laboratory research:� ORA- Office of Research Admin� Legal Services� IACUC- Institutional Animal Care

and Use Committee� COI- Conflict of Interest � OTC- Office of Technology and

Commercialization- patents� GCA- Grants & Contracts

Accounting

� If Clinical trial:� ORA- Office of Research Admin� Legal Services� IBC- Institutional Biosafety

committee� IRB- Institutional Review Board� COI- Conflict of Interest � OTC- Office of Technology and

Commercialization- patents � CRF- clinical research finance� GCA- Grants & Contracts

Accounting

Compliance Checklist

� Federal Policy (Uniform Guidance)� State Regulations� Sponsor Specific Policies� Institution Policies� Grant or Contract Policies

Policy Adherence

� Reasonable� Allocable� Consistent� Allowable

Cost Principle

� The Federal Office of Management and Budget (OMB) has issued consolidated and revised regulations pertaining to federal awards (Uniform Guidance), which took effect December 26, 2014. These regulations supersede Circulars A-21, A-110, and A-133� https://www.gpo.gov/fdsys/pkg/FR-2014-12-19/pdf/2014-28697.pdf

� e-CFR Electronic Code of Federal Regulations� https://www.ecfr.gov/cgi-bin/text-

idx?SID=2fc96b98fd6e634050df119454d56e95&tpl=/ecfrbrowse/Title02/2cfr200_main_02.tpl

� Subpart D- Post Federal Award requirements

Federal Uniform Guidance

� Grants and Contracts� Setup in accounting system� Terms and budgets� Post award approvals in accounting� Monitor and review of allowable*� Review and approve check requests� Review and process No Cost extensions and

budget revisions to sponsor� Submit invoices� Payment allocations� Sub-award monitoring� Financial reporting quarterly and annual� Accounting entries � Closeout

� Department� Salary Planning*� Terms and budgets� Personnel expense transfers*� Accuracy of accounts� Perform research� Initiate request, process, approve, monitor

expenses.� Budget modifications � Reconciliations*� Cost transfers � Effort reporting*� Monitor milestones to project; financial reports

*Further discussion

** Please check institutional policy

Post-Award Management

� Be proactive� Process salary transfers at project start or account setup� Use % effort allocated� Monitor through end of award to prevent overdrafts� Be aware of salary caps � Collaborators- get their group on board! � Effort

Salary Planning Tips

� Accurate accounting and financial reporting� Internal Controls � Timely expenses� Test accounts� Safeguard assets and accounts� Compliance with policy, plan and procedures� Monitor to see if expenses were posted to correct account� Errors

• Reference Sarbanes Oxley Act of 2002

Reconciliation

� Monitor if effort performed � Monitor if salary effort recorded� Monitor if cost share� New funding � PI – Steward certifies his or her involvement on project.

Effort Reporting

� Align salary expense to effort� Budgeting � Compliance� Review expenses monthly

� Reconciliation

Award Management: Timeliness

� Internal controls- managing award; take prompt action to correct; safeguard information

� Cost Sharing or matching- voluntary cost sharing L� Other standards for financial and program management� Property standards� Procurement standards� Performance and Financial monitoring and Reporting� Sub-recipient Monitoring and Management� Record retention and access� Remedies for noncompliance� Closeout � Collection- §200.345- pay back within 90 days

Accounting: Things to note

� Know expiration dates � Monitor expenses throughout� Communicate with PI

� Advance notice for their science � Contact sub- PI for their science � Carryover?

� Communicate with Central Office (Grants and Contracts) � Confirm if all expenses were captured timely� Ask questions

Progress and Financial Reporting

� Learned process at Department level� Faculty engagement� Follow- up – Central office

� Generate action items for follow-up:� Communication starts with you. � Follow- up with your collaborating departments� Build an effective team environment across your Institution � Alliance among departments� Be a great leader in your area and your organization!

Key Takeaways