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To receive funding, the University must adhere to Federal, State, and University guidelines regarding financial oversight of sponsored projects.
Careful consideration of reporting variables combined with scrupulous accounting practices is necessary to safeguard the University's integrity and provide maximum recovery of Facilities and Administrative Costs (F&A) for balances remaining at the end of a sponsored project.
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.
This operating standard defines and emphasizes the actions necessary for completing budget revisions to sponsored accounts.
This operating standard establishes the Office of Sponsored Programs (OSP) as the appointed authority in accepting and initiating changes to the terms and conditions of any research contract, grant, or cooperative agreement on behalf of the University.
Prepaid cards allow business to be conducted more efficiently and effectively in specific situations. It is necessary to determine the acceptable circumstances to use this process and the methods by which they must be managed.
The purpose of this standard is to document Federal and University practice involving Cost Accounting Standards (CAS) exemptions.
The University offers this operating standard to provide clarification and guidance as to University practices regarding expenditure inquiries about non-personnel issues in conjunction with Federal regulations governing allowability.
An awareness of the co-dependent relationship between departments and the Office of Sponsored Programs (OSP) underscores the significant impact each has in producing accurate, timely reports to sponsors and helps maximize expenditures efficiently. This operating standard provides common protocols for maintaining sponsored award accounts that uphold the integrity of research at the University.
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.
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.
This operating standard presents various types of final reports requested at the end of a project period to close out a sponsored project, with emphasis on collaboration amongst central offices, Office of Sponsored Programs (OSP), and the Principal Investigator (PI) in providing and reconciling all pertinent information.
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.