Office of Sponsored Programs - 600.02 - OSR Financial Reporting

Title

Office of Sponsored Programs - 600.02 - Financial Reporting

Purpose

Financial reporting is significantly important to assist the University in avoiding non-compliance issues.

This operating standard defines the responsibilities of the Office of Sponsored Programs (OSP) in partnership with the Principal Investigators (PIs), Departmental Administrators (DAs), and sponsoring agencies, in order to cultivate positive relationships with sponsors for continued support for research at the University.

Policy Statement

OSP prepares and submits official financial reports to the sponsor on behalf of the University and the PI. This includes:

• Monitoring sponsor reporting requirements in compliance with 2 CFR §200 Subpart D
• Depositing checks and initiating drawdowns for all sponsored research accounts
• Preparing invoices and financial reports of expenditures to sponsor agencies
• Serving as the University’s liaison with agencies and auditors on financial matters in accordance with Federal regulations provided in 2 CFR §200 Subpart F

PIs and DAs provide OSP with current, accurate financial information necessary to complete financial reports. OSP provides access to submitted reports to each administering department.

Related Requirements

• Research Administration Glossary at Carolina
• 2 CFR §200 Subpart D - Post Federal Award Requirements
• 2 CFR §200 Subpart E - Cost Principles
• 2 CFR §200 Subpart F - Audit Requirements

Unit Policies, Standards, & Procedures

• OSP Operating Standard 600.01 - Reporting Overview
• OSP Operating Standard 600.03 - Principal Investigators and Departmental Administrators Financial Reporting Responsibilities

Contact Information

For questions regarding this operating standard and its related procedure, please contact SponsoredPrograms@unc.edu.

For questions regarding Pre-Award management or Post-Award administration, please contact the assigned Sponsored Projects Specialist (SPS).

For invoicing, reporting and other financial matters, please contact the assigned Sponsored Projects Accountant. OSP Staff assignments are found in RAMSeS or on the OSP website.

History

The operating standards in the Office of Sponsored Programs Operating Standards & Procedures Manual supersede any OSP operating standards, procedures and appendices previously included in the University Business Manual, a publication of UNC-Chapel Hill’s Division of Finance.