financial management of sponsored awards: confessions from a department administrator
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Financial Management of Sponsored Awards: Confessions From A Department Administrator. Tolise Miles Biomedical Graduate Research Organization Fannie Dela Cruz Center for Clinical & Translational Science (CTSA) Muftiat Fahm Medical Center Finance Office. Examine Financial Processes. - PowerPoint PPT PresentationTRANSCRIPT
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Financial Management of Sponsored Awards:
Confessions From A Department Administrator
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Tolise MilesBiomedical Graduate Research
Organization
Fannie Dela CruzCenter for Clinical & Translational
Science (CTSA)
Muftiat FahmMedical Center Finance Office
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Tolise MilesUniversity AdministratorDepartment of Medicine
Examine Financial Processes
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Post Award Administration Award Setup Expenditures Subcontracts Cost Transfers Account
Monitoring
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Notice of Award Review Documentation Salary, Supplies, Equipment, Other Costs
& Travel Subcontract
Appropriate Funds Budget Revision Process Salary Cost Allocation
Award Setup
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Monitor invoicing PI must approve invoices Expenses must adhere to
negotiated contract Communicate concerns to Central Administration
Subcontracts
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Cost Transfers Within the period of performance of the award Must adhere to A-21 guidelines
Allowable Reasonable Allocable Treated Consistently (CAS 501 and 502)
Allocated to the proper account Solid justification for costs sharing between sponsored accounts High risk transfers
Older than 90 days Last month of the award After the award ended Transfers from an overdraft account
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Faculty/Staff notification (email) Forms
Travel Authorization Travel Expense Sponsored Award Computer Request
Databases Sponsored Accounts Computer Database
Communication Shared Drive (electronic documents) Meetings
Account Monitoring
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Fannie Dela Cruz, CRASenior Administrative DirectorGeorgetown Howard Universities center for clinical & Translational Science(GHUCCTS)
Account Reconciliation
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GHUCCTS member institution and their relationship to the component
of the CTSA
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Reconciliation Perform monthly reconciliation Detailed copies of financial report Complete reconciliation logs
Review transaction details Review actuals to budget Investigate and resolve variances Review transfers Review commitments Review cost transfers Review allowability of expenses
Discuss expense and acquire signature of Principal Investigator
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Sponsored Accounting Worksheet
Summary page Department adjustments Unliquidated obligations
Final subcontract invoices Open purchase orders Consolidated billing charges
Cost share information Sponsored accounting adjustment Fringe review Indirect cost review
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Sponsored project worksheet - Summary
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Muftiat Fahm, CPA,CISA,CRADirector of Decision Support,Financial Analysis & Planning
Financial Analysis
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Data Recording Policies and Procedures Personnel Technology Support
Data Reporting Home-grown e.g. Excel Packaged Software e.g. Cognos Enterprise Resource Planning (ERP)
System e.g. Peoplesoft, Lawson and Workday
Financial Analysis
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REPORTS Internal Reports
Center Status Report Proposals Report Awards Report Sub-recipients Report
External Reports Effort Report Financial Report Compliance Report
Financial Analysis(Cont.)
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