1. Sponsored Programs: Award Process Overview Presented by: David Paul Mary Vicuna-Howe M Y P ROPOSAL W AS F UNDED ….N OW W HAT ?

2. Overview 1. Introduction to OSP 2. PI’s Role 3. Regulations 4. Financial Management 5. Financial Assistance vs. Procurement Basic Cost Principles Account Set-up Incurring Expenses Invoicing/Reporting Financial Monitoring Time & Effort AuditsCloseouts

3. Sponsored Programs Cradle to Grave operations for Externally funded grants/contracts CUSTOMER FOCUS Compliance & Regulation RegulationSupport Research Research

4. PI Role Manage Technical aspectsManage Technical aspects Fulfill SOW objectives and timelinesFulfill SOW objectives and timelines Identify compliance requirementsIdentify compliance requirements Fiduciary responsibilityFiduciary responsibility Coordinate with OSPCoordinate with OSP We can assist in many of these areas We stay in contact with Sponsor

5. Regulations OMB A-21 (Cost Principles)OMB A-21 (Cost Principles) OMB A-110 (Administrative Guidelines)OMB A-110 (Administrative Guidelines) Federal Acquisition Regulation (FAR)Federal Acquisition Regulation (FAR)Contracts OMB A-133 (Audit)OMB A-133 (Audit) StateState UniversityUniversity Sponsor Specific RegulationsSponsor Specific Regulations

6. FINANCIAL MANAGEMENT

7. Basic Cost Principles (A-21) Allowable Allowable Allocable Allocable Reasonable Reasonable Consistent Consistent

8. Account Set-Up Getting an Account Established Getting an Account Established 1.Receive award 2.SRA reviews budget 3.Enter into financial system Timeline: 2-3 days Timeline: 2-3 days Notification from SRA Notification from SRA Start Spending Start Spending

9. Incurring Expenses How do I start spending on my account? 1.Salaries: Prepare PAF forms 2.Travel: Reimbursed through a TD (travel document) 3.Supplies (Operations): Get a P-Card at 4.http://purchasing.unlv.edu/pcard/forms_instructions.html 5.Sub-awards: Process a PV (payment voucher) when invoices are received 6.Equipment: Utilize MUNIS to enter requisitions Things to consider: 1.Expenditures should be line with your budget categories 2.Expenditures must be incurred within the project period 3.Your expenses should not exceed your budget

10. Invoicing & Reporting Invoicing OSP prepares the invoices OSP prepares the invoices Various types of invoices Various types of invoices 1.Cost-Reimbursement vs. Fixed-Price 2.Scheduled invoices 3.Invoice based on deliverables Frequency depends on award terms Frequency depends on award terms Balance Activity Reports (BAR’s) are used to help prepare invoices Balance Activity Reports (BAR’s) are used to help prepare invoicesReporting Financial and Technical Financial and Technical Financial reports are prepared by OSP Financial reports are prepared by OSP Technical reports are prepared by the PI Technical reports are prepared by the PI Frequency depends on award terms Frequency depends on award terms

11. Financial Monitoring PI’s should monitor their accounts on a regular basis PI’s should monitor their accounts on a regular basis Get access to your accounts on the data warehouse: Get access to your accounts on the data warehouse: https://sysapps.unlv.edu/SecurityWebForms/SysAppsPageFrame.htm Review for errors and make adjustments in a timely manner Review for errors and make adjustments in a timely manner Contact your Sr. Accountant if you require a budget adjustment or need to do a cost transfer Contact your Sr. Accountant if you require a budget adjustment or need to do a cost transfer OSP reviews monthly activity for invoicing purposes and for outstanding payments OSP reviews monthly activity for invoicing purposes and for outstanding payments ** Both expenses and payments can be ** Both expenses and payments can be reviewed in the data warehouse.

12. Time & Effort Federal Requirement: OMB Circular A-21 Federal Requirement: OMB Circular A-21 Effort Reports are subject to Audit Effort Reports are subject to Audit Reports are ‘After-the-Fact’ confirmation of how an employee spent their time Reports are ‘After-the-Fact’ confirmation of how an employee spent their time Generated on a quarterly basis and initially based on payroll information Generated on a quarterly basis and initially based on payroll information Review and make changes if necessary Review and make changes if necessary PI or someone with ‘first-hand’ knowledge must sign PI or someone with ‘first-hand’ knowledge must sign Total effort must equal 100% Total effort must equal 100% **Return signed reports to Angie Keune at MS 1055

13. Audits Various types of Audits 1.External: University is subject to A-133 Audit 2.Internal: NSHE and Campus Audit 3.Sponsor: (NSF, NIH, State of NV, etc.) Methods of Audit 1.On-Site 2.Desk Review Scope of Audit 1.Programmatic 2.Financial 3.Both Document Retention for Audits 1.Important to keep back-up and documentation 2.Many awards are auditable up to 3 years after the date of submission of the final report ** Please notify us if you are contacted regarding an audit of your award!

14. Closeouts Financial Reports Financial Reports Make sure account reconciledMake sure account reconciled Technical Reports Technical Reports Patent Reports Patent Reports Equipment Reports Equipment Reports Sub-recipient Sub-recipientReports S TILL O BLIGATIONS

15. Financial Assistance vs. Procurement Financial Assistance Grants and Cooperative Agreements  Public Benefit  Scientific autonomy – Grants  Significant input - Cooperative Agreements  Flexibility available Procurement Contracts and Agreements  Specific benefit to sponsor  Strict SOW with no deviation unless approved via modification  Very strict

16. Closing Remarks Resources Resources WebsiteWebsite AccountantAccountant Please Call!! That’s Why we’re here PI Role PI Role Technical ObligationsTechnical Obligations DeliverablesDeliverables Financial MonitoringFinancial Monitoring

17. Questions?