Financial Services Center Contracts and Grants Main Campus Presentation December 5, 2012 Department Overview
Contract & Grant Accounting is the central office responsible for overseeing the financial compliance requirements stipulated within the sponsored award to the University based on a proposal submitted from the PI. Department Overview, contd
Interpret UNM, Federal, State, and sponsor policies Set up award and budget in Banner
Monitor expenditures for compliance Review EPAFs, Labor Redistributions, Requisitions, JVs, and DPIs Process petty cash transactions Create and submit invoices to sponsors (including collections) Process automated draws (payments) Apply payments to awards (checks and wires) Review and process sub-award invoices (incoming invoices) Generate and track Effort Reports Review and track carry-over requests submitted by PI
Submit Financial Reports Submit Invention Statements and Equipment/Inventory Reports Close awards in Banner and with sponsor Respond to audit requests Agenda: Contract & Grant and General Banner Forms
Business Purpose Cost Transfers
90 day Memos Salary Transfers Agenda, contd:
What NOT to Charge Retention Policy Useful Banner Forms
Specific to Contracts and Grants FORM USED FOR FRAGRNT Identify PI, Fiscal Monitor, other grant info. Find copies of UNM
invoices and payments in Xtender. FTMACCI Use to find the fund number associated with an index. FRMFUND
View the budget start and end dates of a fund. FRIGITD Show grant budget and expense information. Similar to FGIBDST for unrestricted indexes.
Useful Banner Forms General FORM USED FOR FOADOCU Status of documents you have
created. Disapprove your documents. FOAAINP Status of documents awaiting approval. FOIAPPH
Look up history of processed documents. FGIDOCR View detail for posted JVs. FOIDOCH
Show history of vendor invoices, date paid, and check number. FRAGRNT FRAGRNT FRAGRNT
FTMACCI FRMFUND FRIGITD FRIGITD
FRIGITD FRIGITD FRIGITD FRIGITD FOADOCU
FOAAINP FOIAPPH FOIAPPH FGIDOCR
FOIDOCH FOIDOCH FOIDOCH Business Purpose Always required Essential on Contract or Grant purchases
Justifies the expense Documents the expense in laymans terms Business Purpose A business purpose is required on a DPEZ, JV, Pcard Exception, Requisition, or Labor Redistribution:
NOT ONLY what I bought (or redistributed) But ALSO Why I bought (or redistributed) it Who What Where Why Justify
Business Purpose Examples Good example for an Invoice: Purchase reactant for Dr. Smith to complete final experiments on grant so conclusions for grant can be finalized. Weak / Unacceptable example: To spend down the remaining grant funds.
Business Purpose Examples Weak / Unacceptable example for a JV: Move expense to correct index Good example:
Move Joe Smiths SW air travel (S07564) to attend a seminar on the grant-related topic, how to hydrolize FSQ with greater accuracy, attended 7/12-16/2012 to the grant index Cost Transfer Policy Items must be: Of reasonable cost Allowable on the award
Allocable to the award Be transferred when identified Ideally within 90 days Note: transfers within the last 90 days of the budget period are highly scrutinized Can anyone guess why?
90 Day memo Required if an expense has not been properly allocated to a grant within 90 calendar days from original transaction date
Includes Business Purpose for the transaction Memo includes an explanation - why did this late entry happen?
This is preventative - explain how this is NOT going to happen again Salary Transfers Must also meet ALL of the Cost Transfer requirements! If later than 90 days, a 90 day memo is still required Additionally: Total salary must be an accurate reflection of work performed on the project
Business Purpose must indicate name of person who requested the transfer (with signature authority) Department must maintain supporting documentation in their files Reminder: payroll records are locked when effort is certified What NOT to Charge! Items included in F&A are generally not
allowed as direct costs on awards Examples may include: Administrative and clerical salaries Copier paper and toner General office supplies Telephone line and cell phone charges
And Some Exceptions OMB Circular A-21 explains in more detail. In general: On a Major Project direct administrative and/or clerical salaries may be appropriate These are large, complex programs Projects that involve extensive data accumulation
Projects that are geographically inaccessible to normal departmental administrative services Know your Retention Policy Grant retention policies vary; READ YOUR CONTRACT OR GRANT Payroll does NOT keep copies of timesheets
This is a department responsibility The years of retention required begin AFTER the final financial report is accepted If a 3 year grant ends in June of 2014 and has a 7 year retention policy, you must keep original source documents until:
HSC Contract and Grant Accounting Website: http://hsc.unm.edu/financialservices/cga/ Main Campus Contract and Grant Accounting Website: http://www.unm.edu/~cgacctng/ UNM Cost Transfer Policy-2450: http ://www.unm.edu/~ubppm/ubppmanual/2450. htm
Cost Transfer Justification Memo template: http ://hsc.unm.edu/financialservices/CGA/Forms.s html Unrestricted Accounting, Main: http
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