1. Office of Grants & Contracts Accounting (OGCA) Financial Status Reporting (FSR) & Final Invoices using the Award Reconciliation & Review Tool (ARRT) 1 September 16, 2014

2. Learning Objectives As a result of participating in this Office of Grants & Contracts Accounting (OGCA) Financial Status Reporting (FSR) & Final Invoices using the Award Reconciliation & Review Tool (ARRT) course, you will: Understand the overall FSR/Final Invoice process for Emory University Understand the role of the Department and OGCA in the FSR/Final Invoice process Know how to use the ARRT 2 April 15, 2014

3. Agenda Overview – Process Review – Roles and Responsibilities Using ARRT – Navigation Checklist – Practice Examples Routing and Approval Using PACT – Closeout Process – Practice Examples 3 April 10, 2015

4. Definition/Description A Financial Status Report (FSR) is a statement of expenditures sent to the sponsor of a grant or contract. It is prepared in collaboration with the department and submitted by the Office of Grants and Contracts Accounting (OGCA) on behalf of the Principal Investigator (PI). – The schedule for submitting required financial reports is generally specified in the award documents of a grant or contract. – FSRs may be due at the end of the Budget Period, Project Period and/or award period normally due within 90 days after the expiration date, and may be required at interim times as well. A Federal Financial Report (FFR) is required for recipients of federal funds to report the status of funds for grants or assistance agreements. 4 April 15, 2014

5. o Review FSR/Final Invoices o Confirm final reportable financial expenditures with Department. o Update the FSR/Invoice Milestone page. o Approve and Submit FSR/Final Invoices o Post Submission: o Upload FSR/Final Invoice into Compass and the I: drive. o Make any necessary budget adjustments to final expenditure amount, final changes to billing limit and make any necessary F&A adjustments. Roles and Responsibilities Department o Check for No Cost Extensions (NCE) (Final FSR/Invoice). o Notify OGCA if NCE has been requested and/or approved o If no NCE, review the award terms and conditions and agency guidelines. o Reconcile subcontract balances. o Prepare the FSR/Final Invoice package using ARRT o Submit the package for approval to OGCA o Post Submission o Remove Deficits o Process Residuals – transfers or refunds to sponsor o Ensure final reported expenditures = ledger OGCA 5 September 16, 2014

6. FSR Types TypeDescription Interim FSR (IFSR)An Interim FSR is a financial report that covers a specified period (i.e., monthly, semi-annually). Sponsor dictated. Quarterly FSR (QFSR)A Quarterly FSR is a financial report that covers a 3 month period. Can be calendar quarters or budget quarters. Annual FSR (AFSR)An Annual FSR is a financial report that typically covers a one-year period. Final FSR (FFSR)A Final FSR is a financial report that is prepared at the end of an award. 6 April 15, 2014

7. Contract Bill Plan Types CR_LOCCost-Reimbursable Letter of Credit CR_NON_LOCCost Reimbursable NON Letter of Credit AUTO SCHED PAYAuto Scheduled Payment SCHED PAYScheduled Payment SCHED PAY TASKScheduled Payments – Task HYBRIDSPart FIXED fee and Part Cost Reimbursable CLINICAL TRIALS Used for all awards where the research purpose has been defined as Clinical Trial. DEPT TO INVOICE Used for awards where the Department is responsible to bill for items, not on ledger. OTHERThis type represents all other contracts not identified as CR_LOC, CR_NON_LOC, SCHED-PAY, Hybrids, or Clinical Trials. 7 April 15, 2014