Office of Sponsored Research - 600.03 - Principle Investigators and Departmental Administrators Financial Reporting Responsibilities

Title

Office of Sponsored Research - 600.03 - Principle Investigators and Departmental Administrators Financial Reporting Responsibilities

Purpose

This operating standard describes general responsibilities for Principal Investigators (PIs) and Department Administrators (DAs) in maintaining essential data for reporting requirements.

Policy Statement

The PI is responsible for submitting programmatic reports by the deadlines established in the award agreement or contract, providing an explanation of the research progress, a summary of results, any publications stemming from the research, and other pertinent information, including an explanation of cost overruns or high unit costs.

When it is needed for preparation of financial reports to the sponsor, the PI provides information about program performance to the Office of Sponsored Research (OSR).

PIs and DAs must establish reliable departmental accounting practices for day-to-day financial monitoring of sponsored research projects in compliance with Federal regulations established in 2 CFR §200 Subpart E. The award terms and conditions detail the financial data that must be reported. The department establishes a tracking system (also known as a "shadow system") that reflects the sponsor’s requirements at the onset of the award.

The DA is responsible for performing a monthly comparison of the department’s records to the University records in ConnectCarolina and monitoring items that are not reflected there. Since the data reported in ConnectCarolina serves as the basis for financial reporting to the sponsor, it is critical that the department maintain current and accurate records. As a general rule, once a Project ID is assigned to a project, expenses should be incurred immediately and on a regular basis. This practice helps to ensure that expenses align with the progress of the project, therefore providing an accurate report to the sponsor.

PIs and DAs are also responsible for tracking cost sharing commitments as well as effort reporting using the University’s Effort Certification and Reporting Technology system (ecrt). PIs and DAs also oversee subrecipient accounts and activities to ensure compliance and timely reporting as established in the award terms and conditions.

Related Requirements

• Research Administration Glossary at Carolina
• 2 CFR §200 Subpart E - Cost Principles

Unit Polices, Standards, & Procedures

• OSR Operating Standard 400.03, Procedure 1 - Establishing Departmental Post-Award Monitoring
• OSR Operating Standard 600.01 - Reporting Overview
• OSR Operating Standard 600.02 - OSR Financial Reporting

Contact Information

For questions regarding this operating standard and its related procedure, please contact ResAdminOSR@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. OSR Staff assignments are found in RAMSeS or on the OSR website.

History

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