We Are All in This Together: Close Out Issues Researchers, Administration Teams and Sponsored Projects Staff Arriving Together at the End of a Sponsored.
Published byModified over 6 years ago
Presentation on theme: "We Are All in This Together: Close Out Issues Researchers, Administration Teams and Sponsored Projects Staff Arriving Together at the End of a Sponsored."— Presentation transcript:
We Are All in This Together: Close Out Issues Researchers, Administration Teams and Sponsored Projects Staff Arriving Together at the End of a Sponsored Project
CAS Exceptions Requested CAS exceptions must be: –allowable, allocable, reasonable, identifiable with a sponsored work and approved by the sponsor, Typical CAS exceptions are – e.g., Office supplies, clerical salaries, postage, local phone calls
Subcontract A contract that assigns some of the obligations of an existing contract to another party.
When the Award Arrives Congratulate the researcher! Setup Team Meeting to: –Verify the budget –Verify the cost-share –Schedule reports –Setup Internal Financial Tracking System –Other items as needed
Final Closeout Checklist Start with This in Mind Final Deliverables Money Out = Money In Documentation
During the Life of the Project Share your info Prompt for reports Prompt for documentation
During the Life of the Project Keep on top of it Cost Share – On schedule? On target? Documented Reinforcements
Anything not routine Complex Projects Unspent funds (FP) Excessive Spending Post Award Issues That Effect Closeouts
Review For Project Changes A significant delay in project Conflict of interest that cannot be resolved Change in scope of work Addition of a sub contract.
Review for Non- Compliance Review for Non-compliance with Award Restrictions –Budget restrictions / limitations –re-budgeting between categories –prior approvals for equipment Unallowable Costs Other
Review Items That Need Special Monitoring Special Monitoring Purchasing cardsCost Share Cash AdvancesCost Transfers EncumbrancesSubcontractors Hourly-paid Staff and/or Students
Purchasing Cards All Purchasing Card costs on sponsored accounts MUST be directly related to the project and documented
Cost Share Documentation Audit Purposes Mandatory reporting to sponsor Voluntary Committed verified & Documented Consequences of Under-reported Cost Share
Cash Advance Use sparingly Not a “petty cash” fund Costs must be directly related to the project Mostly for field work
Cost Transfers OMB Circular A-21 prohibition makes cost shifting audit sensitive Post Term Charges –Largely unallowable (Final report costs only exception) Unallowable Costs –Costs that do not meet the criteria for A 21 Allocable costs.
Open Encumbrances All encumbrances should be reviewed at least 30 days before the end of an award.
23 Review Subcontracts Activate Subcontract All payments/financial reports being submitted in a timely manner All deliverables, progress reports being submitted
Date Of Completion “Date of completion means the date on which all work…is completed or the date… on which Federal or Non Federal sponsorship ends.”