The Post-Award Assistant is designed to provide oversight and guidance of post-award administration to the research team and administrators to ensure compliance with sponsor terms and conditions, as well as institutional policies and procedures.
Key Features of the Post-Award Module include:
a. New Award Set-up
- The Account Set Up/Change Checklist
- Load budget based on award documentation provided by the Office of Research and Sponsored.
- The responsible Grant Accountant will notify the Principal Investigator (PI) via the New Grant and Fund Communication email when a new FOAP has been established.
b. Review and Processing of Sponsored Research Project Expenditures
- Grant and Contract Accounting review and approve transactions received by a department that are associated with sponsored research projects.
- Review, approve and process requests for cost transfers, including salary reallocations related to sponsored projects, as appropriate.
- Monitor expenditure activities on sponsored research funds to ensure compliance with federal regulations, agency specific requirements, and institution policies and procedures.
- Review and approve procurement card applications and expenditures, as appropriate.
c. Invoicing and Financial Reporting
- Process account reconciliation of grant expenditures; processing department submitted cost transfers as required.
- Prepare and submit interim and final financial reports and issues invoices in a timely manner, as required by sponsors.
- Execute cash drawdowns through Letter of Credit draws, monitor accounts receivable and advance payments; monitor overall cash collection for sponsored projects.
- Prepare and provide special reporting to sponsoring agencies (i.e., ARRA, NSF survey, etc.).
d. Award Closeout
- Send PI Award Expiration Notifications via email, as appropriate.
- Coordinate financial closeout and termination of an award with Principal Investigators and departmental staff.
- Reconciliation of any deficit or other corrections.
- Complete final reporting, if required.
- Complete final Invention Report, if required.
- Complete Property Report, if required.
- Close out grant/fund(s) in external financial system (i.e Banner, Peoplesoft)
e. Financial Audits
- Coordinate all audits conducted by external audit agencies and provides information required during audit reviews