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