1. 7 th Annual Post Award Workshop March 20, 2008 Sponsored by: Vice President for Research Research Accounting

2. Goals/Objectives Introduction to the Post Award Process Provide information and links for future reference Answer specific questions Get to know each other

3. Research Accounting Staff 487-2244 Julie Seppala, Director jhseppal@mtu.edu Tammy LaBissoniere, Assistant Director tklabiss@mtu.edu Stacey Corrigan, Senior Research AccountantTom Holzberger, Assistant Research Accountant Federal Pass-Through, State Federal Pass-Through, Foreign & Foundation Project Setup & Close-OutProject Setup & Close-Out slcorrig@mtu.eduslcorrig@mtu.edu taholzbe@mtu.edutaholzbe@mtu.edu Kate Wells, Assistant Research AccountantKelly Kallio, Assistant Research Accountant Sponsored Billing, Industrial & Various SponsoredREF/Faculty Scholarship Project Setup & Close-OutProject Setup & Close-Out klshamus@mtu.eduklshamus@mtu.edu kmkallio@mtu.edukmkallio@mtu.edu Christine Gruver, Office & Account Assistant Karen Foltz, Office Assistant Expenditure Review Support Staff cmgruver@mtu.edu ksfoltz@mtu.educmgruver@mtu.eduksfoltz@mtu.edu

4. Sponsored Project Responsibilities General Fiscal Responsibilities Research Accounting Principle Investigator (PI) Department Chair/Director

5. General Fiscal Responsibilities Every university employee Compliance with university policies Compliance with federal and other agencies policies Should the expense be paid from public funds? Checks and balances are needed at every level

6. Research Accounting Establish Projects in accounting system Review expenses for compliance Prepare reimbursement requests Assist PI in the financial close of projects Collect outstanding receivables from sponsoring agencies

7. Principle Investigator (PI) Management of expenditures Appropriateness and reasonableness of expenditures Initiation of budget and/or other modifications Preparation of technical reports/deliverables Review of monthly accounting statements Review and approval of effort reports for each program

8. Department Chair/Director Approve departmental cost share or matching Monitor faculty and staff effort Approval of substantial modifications to the award Oversight of project administration by the PI

10. Facilities & Administrative Costs/ Indirect Costs/Overhead Expense categories subject to F&A Salaries and wages Fringe benefits Travel Supplies Services Expense categories not subject to F&A Equipment Tuition for GRA’s Sub agreements greater than $25,000

11. Incentive Returns Distribution –PI 6% –Dept 12% –College 7.3% –Institute/Center 34.7% Deposited in E35 index, quarterly basis Funds to be spent on items that enhance research and graduate studies

12. How to Read an Account Statement Index number coding Summary Detail transactions Payroll/labor distribution Open PO

13. Index Number Coding E2 & E34 – Sponsored E35 – Incentive E0 – Enterprise, Senior Design, Research Related Gifts A1 – General Fund D – Start Up, Unrestricted Gifts, Equipment Use

14. Budget vs. Actual by Account Code http://www.admin.mtu.edu/acct/dept/mtuonly/fygor501b2.pdf Summarizes the project budget and expenses by category Provides the balance of unspent funds for the index as a whole Provides the start date, end date and applicable F&A rate

15. Detail Transaction/ Organization Detail Activity http://www.admin.mtu.edu/acct/dept/mtuonly/fygor501b2.pdf Provides individual transactions by the source document number Travel, purchase orders, check request, etc. Used to verify all transactions were expected

16. Open Purchase Order/ Open Encumbrances by Dept and Financial Manager http://www.admin.mtu.edu/acct/dept/mtuonly/fygor501b2.pdf Provides a listing of all outstanding purchase orders (PO’s) Used to verify that all PO’s listed were expected

17. Labor Distribution/ Gross Earnings Payroll Expense http://www.admin.mtu.edu/acct/dept/mtuonly/fygor501b2.pdf Provides listing of all the individuals compensated/paid Used to verify that all individuals listed were expected

18. How You Receive Your Award & Index Number RSP receives paperwork PI & RSP review the term & conditions RSP routes for authorized signatures RSP routes fully executed award to PI & RA RA sets up index number in Banner RA informs PI & Dept Coord. the index # –Multiple index numbers may be assigned

19. How to Spend Your Funds Questions to ask before spending Payroll forms Non-Payroll Forms

20. Questions to Ask Before Spending Are there enough funds available? Is the expense within the start and end dates? Is the expense allowable?

21. Payroll Forms Faculty – Change of distribution form Faculty – Employee change status form GRA – Pink status form

22. Non-Payroll Forms Purchase order Procurement card Travel Voucher

23. Allowable Costs Unallowable costs Prior approval from the sponsor Budget flexibility

24. Unallowable Costs General purpose office supplies: –Paper –Printers –Printer cartridges –Copy charges –Telephone charges –Postage General purpose computers Tuition for GRA’s is allowable only when the student is receiving stipend from that same award

25. Prior Approval From the Sponsor Equipment purchases require prior approval from the sponsor if the equipment was not originally budgeted or disclosed in the proposal budget or budget justification Other prior approval restrictions will be noted on the activity sheet

26. Budget Flexibility External/Sponsor dictated budget constraints will be noted on the activity sheet Internal budget flexibility is normally 25% variance of the budget category Internal budget modification guidelines

28. Thank You for Attending Call 487-2244 if you have any questions Please fill out the evaluation form Refer to our website at: http://www.admin.mtu.edu/research/vpr/research_accounti ng/index.html THINK SPRING!!! IT HAS TO COME SOMETIME