Sponsored Programs Services
-
Upload
virginia-boyer -
Category
Documents
-
view
27 -
download
0
description
Transcript of Sponsored Programs Services
04/19/23
TopicsTopics
Recognition of Term DateAwareness of Financial DeliverableTermed Accounts Letter NotificationTaking Action to Balance Accounts
– Subcontracts, sub accounts, commitments, etc.Notification to SPS AccountantSPS Actions and ProceduresCost Share Documented
04/19/23
Recognition of Term Date andRecognition of Term Date andAwareness of Financial Awareness of Financial DeliverableDeliverableLook to your awardRefer to the Award Summary Sheet
04/19/23
Notice of Termed Accounts LetterNotice of Termed Accounts Letter
Please Return To Sponsored Funds at EHP
04/19/23
Notice of Termed AccountNotice of Termed Account
Review accountsReturn to SFA with closing instructionsReturn to SFA with copy of extension
04/19/23
Take Action to Balance AccountTake Action to Balance Account
Submit adjustment forms to PayrollNotification to Faculty account is closingNotify Telecomm/CIT of changeComplete Purchase Orders
04/19/23
Sub-Accounts and SubcontractsSub-Accounts and Subcontracts
Clear advance balancesCheck Subcontract accountClear commitmentsDid Account have Program Income ?Complete Cost Share
04/19/23
Notify SPS ASAPNotify SPS ASAP
No need to wait until you get a statement with a zero balance; notify SPS accountant how the account will close
Get PI’s permission to return unexpended balances
04/19/23
SPS Actions and ProceduresSPS Actions and Procedures
Once the account is reconciled to zero, SPS goes through Closing Procedures
ACCOUNT NUMBER AGENCY
Total expense per A/C Analysis Statement Date 5,000.00
Adjustment in process:J.E.# 0.00J.E.# 0.00J.E.# 0.00J.E.# 0.00
Adjusted Total Expense thru term date Term Date 5,000.00
Total Award - 7,000.00Budget Adj in Prog J.E.# (1,000.00)Total Expense 5,000.00
J.E.# 1,000.00
LESS UNLIQ OBLIG (NIH) 0.00 1,000.00
True Cash Position Report---#AC-118A Date 0.00
Revenue Adjustments:Invoices Not Booked: # 0.00Other Adjustments: J.E.# 0.00
Total adjustments in process 0.00
Adjusted Cash Position (DUE) 0.00
CLOSED BY: Date: 05/27/04
FINAL REPORT: YES NO XXSFA Supervisor Approval
COPIES SENT TO DEPT_____________________
OVERHEAD
Unexpended Balance
FINAL REPORT CLOSEOUT RECONCILIATION
PAYROLLFRINGEMISC
Pre-closeoutPre-closeoutCHECKLIST FOR CLOSING TERMINATED ACCOUNTS
PRE-CLOSEOUT (ASSISTANTS) Account #
PREPARE THE FOLLOWING:
PULL CORRESPONDENCE and BILLING FOLDER
PRINT ANALYSIS STATEMENT FOR MAIN AWARD ACCOUNT AND ALL SUBS
FOR POST-TERM EXPENSES, PRINT TRANSACTION AND LABOR DISTRIBUTION STATEMENTS
ORGANIZE CORRESPONDENCE FOLDER, ELIMINATE DUPLICATE E-MAILS, ETC.
CHECK THE FOLLOWING:
IS THIS ACCOUNT UNDER FDP? (yes no)
611X - FOREIGN TRAVEL (must follow agency regulations)
610X - DOMESTIC TRAVEL (must follow agency regulations)
5XXX - CAPITAL EQUIPMENT (request property report from Capital Assets if required)
8XXX - Student Aid - there should be none on Research (FNC 43x) awards except REU or NRSA
6830 - only allowed on Fabrication Accounts (FNC 432/433)
FABRICATED EQUIPMENT ACCOUNTS capitalization entry must be made (6830 TO 5020)
91XX - Unallowable expense - there should be none
COMMITMENTS (all should be cleared) Check with department on all but IDC.
EXPENSES CHARGED AFTER TERM DATE (if incurred prior to term date then OK, if not must be
moved or justifed) Check voucher for date. If necessary to call dept make note of contact person.
PAYROLL (all pay for time after term must be moved)
OVERHEAD (for each IDC rate change)
Check for SUBCONTRACTS, SUB ACCOUNTS, SITE PROJECTS, TRAVEL ADVANCES, COUNTY ACCOUNTS,
PROGRAM INCOME
OBTAIN DOCUMENTATION FOR CLOSEOUT ENTRIES (make adjustments on analysis)
04/19/23
SFS Review of Analysis SFS Review of Analysis StatementsStatementsLook for misused object codesMake sure travel is within guidelinesMove off all Misc. Exp. NONRECOV.Check if equipment is allowable
Final CloseoutFinal CloseoutFINAL CLOSEOUT
DO THE FOLLOWING ENTRIES:
TRANSFER REVENUE FROM MAIN (if there are subs) (not necessary on NSF/DHHS/EDUC)
OVERHEAD ADJUSTMENT (if necessary)
DO BUDGET JOURNAL ENTRY FOR UNEXPENDED BALANCE (if necessary)
DO THE FOLLOWING REPORTS:
FOR A/C'S WITH 272 REPORTING REQUIREMENTS, CK WHAT WAS REPORTED AS FINAL EXPENDITURES
ON THE QUARTERLY REPORT
COST SHARING REPORT, IF REQUIRED
PROGRAM INCOME REPORT, IF REQUIRED
CHECK TO SEE IF TOTAL CASH WAS RECEIVED (do final invoice if not)
DO FINAL FINANCIAL REPORT (this may be the final invoice)
CONTRACTORS RELEASE FOR CONTRACTS/GRANTEE'S RELEASE FOR GRANTS
REFUND VOUCHER (must have memo from PI to return balance)
FINAL REPORT CLOSEOUT RECONCILIATION
PROVISIONAL IDC LETTER (If we are under provisional IDC Rates)
CHANGE FIXED INFORMATION:
ADD STOP CHARGE CODE
ADD DELETE CODE
CHANGE SOURCE CODE TO CLOSED SOURCE for NSF/DHHS/EDUC IF FINAL YEAR
ADD STOP CHARGE CODE ON RECEIVABLE A/C (not on generic receivable accounts)
ADD DELETE CODE ON RECEIVABLE A/C (not on generic receivable accounts)
PUT ACCOUNT CLOSING DATE ON ACCOUNT RECEIVABLE
MARK THE FOLLOWING REPORTS:
ADD ACCOUNT TO CLOSE OUT SFA LIST
ADD REPORT SENT DATE TO OSP PORTAL
MARK CLOSED ON TERM LIST
MARK CLOSED ON BILLING LIST
MAILING INSTRUCTIONS FOR FINAL REPORT / BILLING PAGE
CLOSE-OUT SIGNOFF:
FORWARD TO SUPERVISOR FOR SIGNOFF
EXPENSE WRITE OFF ACCOUNT G05-B995 OR 725-3708 ($50 LIMIT WITHOUT SPECIAL APPROVAL)
NSF WRITE OFF OF REVENUE G05-0062 / G99-9984 (Endowed only)(if financially closed on Qtly Rpt and under $300)