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The following cost transfer procedures have been established to comply with the requirements of Uniform Guidance, 2 CFR Part §200, Subpart E, the National Institute of Health (NIH) Grants Policy Statement, and the requirements of other Federal sponsors.
This procedure details the steps to request and reconcile prepaid cards related to a sponsored project.
The purpose of this standard is to document the expectations and treatment of Research Service Centers (RSCs) 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.
After the Office of Sponsored Programs (OSP) notifies the department of unallowable costs or an overdraft on a sponsored project, the department will be given an opportunity to resolve the issue before expenditures are moved to the administering department’s unrestricted chartfield string.
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.
A Financial Guarantee is prepared and submitted electronically through Research Administration Management System and eSubmission (RAMSeS) in order to request Pre-Award spending.
Completing successful award management is dependent on establishing solid monitoring mechanisms maintained by the department receiving the award. Monitoring is an essential activity throughout the life of the project and is particularly important for financial management. These processes should be established for each award at the receipt of funding. Departments may use the monitoring mechanisms that work best for their department to maintain financial and personnel data for each sponsored proje
The Office of Sponsored Programs (OSP) approves Just-in-Time (JIT) Requirements for National Institutes of Health (NIH) awards through eRA Commons.* The Principal Investigator (PI) first supplies the information in eRA Commons and in Research Administration Management System and eSubmission (RAMSeS), then notifies OSR, who then reviews and approves the information before submitting the approval to NIH and updates University records.
Most funding agencies require a proposed budget that estimates the total costs of the project, with a breakdown of cost per year. A budget based on hourly rates is one that includes the Institutional Base Salary (IBS), fringe benefits, health insurance, and Indirect Costs (F&A) together in a lump sum. It is most often found in subrecipient budgets and must be calculated and shown at the proposal stage.
Health insurance estimations are based on the percentage of effort the employee will work on a project and can differ depending on the classification of the University employee. Health insurance covers a 12-month period. Effective in Summer 2018, budgeting of health insurance costs on faculty compensation outside of their 9-month appointment (summer salary) may be included in proposals.
Fringe benefit rates are expenses directly related to employment. They are determined by an employee’s classification and applied as a percentage of the employee's proposed annual salary. These rates serve as the baseline figures used to calculate fringe benefits. Social Security rates may vary for post-docs and graduate students depending upon the University’s operating standard and the type of award.
Salary caps, generally seen with Public Health Service funding, limit the amount of funding the agency will provide for an individual’s salary. The current NIH salary cap amount is reviewed annually. When an individual’s projected salary exceeds an agency-mandated salary cap, the administrating University department is responsible for funding the difference.
Salary calculations can be based on a percentage of effort (Percent Effort Model) or the number of months of effort (Person-Months Model) dedicated to the sponsored project. Guidelines for both are listed below. Summer salary, normally considered three (3) months, is added compensation to nine month employees, therefore, it is calculated separately. Some sponsors limit the effort allowed for summer salaries. Thus, it is very important to read the sponsor guidelines carefully.
The Proposal Dashboard within RAMSeS creates the University’s official record for each sponsored research project. The RAMSeS Internal Processing Form (IPF) is required for each research proposal of a grant, contract, or cooperative agreement and it is used to collect financial and compliance information and documentation needed for internal review and approval.