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The University offers this operating standard to provide clarification and guidance as to University practices regarding expenditure inquiries regarding equipment, in conjunction with Federal regulations governing allowability and allocability.

The University must adhere to Federal, State, and University guidelines regarding financial oversight of sponsored projects to receive funding. The purpose of this Operating Standard is to ensure that effort statements completed in connection with University sponsored projects are accurate, reasonably reflect the actual level of effort expended on a sponsored project, and comply with sponsor requirements.

The purpose of this standard is to provide guidance on the treatment of cost transfers and document Federal and University expectations. The University has stewardship responsibility for all sponsored funds and proper management of sponsored project expenditures is essential to meet this obligation. The University recognizes that cost transfers may be necessary to correct bookkeeping or clerical errors and to allocate closely related work that may support more than one project.

The University offers this operating standard to provide clarification and guidance as to University practices regarding expenditure inquiries regarding travel, in conjunction with Federal regulations governing allowability.

This operating standard defines Institutional Base Salary (IBS) for sponsored research projects and effort reporting purposes. The University is committed to ensuring that personal compensation charges on sponsored projects are based on an individual’s IBS consistent with the requirements of Federal regulation 2 CFR §200.

This operating standard recognizes the roles of lead administrators at the onset of proposed sponsored research and balances the responsibilities of the Principal Investigator (PI), deans, directors, and department heads.

The purpose of this standard is to document the expectations and treatment of Research Service Centers (RSCs) at the University.

This procedure details the steps to request and reconcile a Cash Advance related to a sponsored project. The UNC Finance Division’s Policies and Procedures Manual should be followed for requesting and reconciling cash advances for non-sponsored activities.

Cash Advances are required to allow business to be conducted in specific situations. It is necessary to determine the acceptable circumstances to use this process and the methods by which they must be managed.

This procedure details the steps to request and reconcile prepaid cards related to a sponsored project.

Research Service Centers (RSCs), also known as cores, core facilities, recharge or service centers, support the research enterprise by providing researchers and scientists with access to infrastructure, scientific technologies, and services that are normally beyond the technical or financial capability of individual Principal Investigators (PIs). Universities that perform Federally-funded research are required to have costing policies that comply with 2 CFR §200 Subpart E.

All performance under sponsored project agreements at the University is subject to internal and external audit according to the guidelines published in 2 CFR §200 Subpart F. This operating standard establishes general foundations for audits of sponsored agreements at the University.

Residual balances on a sponsored project may be transferred to an unrestricted department residual fund account to be used to further University academic, research, and service missions.

Accepting a fixed price agreement involves a degree of risk because the University must complete all work even if the costs exceed the amount of the agreement. In addition to mitigating the risks associated with accepting fixed price agreements, the University must also ensure that relevant costs are assigned to the appropriate project and that the necessary processes are in place to assure consistency in estimating, accumulating, and reporting costs.

This operating standard encourages reconciliation of sponsored project accounts in a timely, accurate fashion and places responsibility for irreconcilable accounts with the departments.