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Award Management

Carryover

If automatic carryover is authorized in the award terms, carryover will be completed after the Financial Report has been completed.

If it is automatic under the award terms and you do not see carryover has processed, e-mail osp-postaward@virginia.edu.

If carryover is not automatic, the principal investigator typically is required to ask for the carryover and frequently has to provide justification and or a revised budget to the sponsor. This request should be countersigned by a University representative for Sponsored Programs. When the carryover approval is received from the sponsor, if it goes to the faculty member, it should be forwarded to ospnoa@virginia.edu.

Cash Management - Invoicing

The University of Virginia is required to comply with the Federal circulars for all federal awards. Federal Circular A-21 “Cost Principles for Educational Institutions”, now relocated to 2 CFR, Part 220 and A-110 “Uniform Administrative Requirements for Grants”, now relocated to 2 CFR, Part 215. Post-Award shares a strong affiliation with Compliance; see the Compliance section for more information.

Activities include:

  • Daily generate and submit invoices to Sponsors, based on each Sponsor’s Guidelines, and in compliance with laws, regulations, policies and procedures.
  • Financial Close-Out of expired accounts.

The University of Virginia has designated the Office of Sponsored Programs, Post Award, as the only authorized office to submit to our Sponsors official invoices for sponsored research programs and activities. The only authorized exceptions to this rule are the invoicing for the following award types: Clinical Trial, Contingency Payment, and Sample Testing. These are invoiced by the particular Department conducting the study/activity.

OSP must receive the FSR Memo & Check List signed by the principal investigator and fiscal administrator so we may process and submit the Final Invoice and proceed to close out the account.

To request information on invoicing status of any given account, please utilize the Discoverer Report: “OSP - VD9K Invoicing and balance due report for the field” that shows invoices issued and the date processed as well as the payments received by the award. Otherwise please send an email to osp-postaward@virginia.edu.

Expenditures

All expenditures must post in the Integrated System to be considered an actual expense and either invoiced or reported to the sponsor.

All expenses must occur on or between the start and the end date for the grant’s “period of performance”.

If an expense needs to be moved and the Transfer Date of the transaction is older than 90 days, please email to osp-retro-request@virginia.edu with request form and supporting documents for batches to be reviewed and approved.

If a transaction cannot be processed due to the account being expired, please email to osp-postward@virginia.edu, explain the reason you are trying to process the transfer, so it can be reviewed.

If cumulative expenditures have exceeded the amount awarded by the sponsor, the account is overspent and a deficit occurs. It is the responsibility of the department to transfer deficits out of sponsored programs awards, promptly or invoicing and reporting will be impacted. See the deficits section of the AR / Cash Management page for more information.

Transaction controls are only a guide, the departmental administrators working with the Principal Investigator is responsible for ensuring charges are accurate, appropriate, allocable and allowable in accordance with sponsor terms. See the Cost Accounting page of the Financial Compliance and Education section of the site for more information.

 

 

Reporting

The University of Virginia is required to comply with the Federal circulars for all federal awards. Federal Circular A-21 “Cost Principles for Educational Institutions”, now relocated to 2 CFR, Part 220 and A-110 “Uniform Administrative Requirements for Grants”, now relocated to 2 CFR, Part 215. Post-Award shares a strong affiliation with Compliance; see the Compliance section for more information.

Activities include:

  • Daily review all new award accounts and changes created in the university’s accounting system to ensure that the system adequately reflects Sponsor’s requirements.
  • Daily generate and submit financial reports to Sponsors, based on each Sponsor’s Guidelines, and in compliance with laws, regulations, policies and procedures.
  • Review of Unrestricted Residual Balances on Sponsored Program Awards following internal procedure 8-16.
  • Financial Close-Out of expired accounts.

The Post Award division of the Office of Sponsored Programs is the only office authorized and responsible to compile and submit Financial Information on sponsored awards on behalf of the University of Virginia to sponsors, auditors and others.

FSR Reminder letters are sent to the principal investigator and department by email close to sixty (60) days before the award end date. A FSR Memo and Check List are also sent out at the end date and several weeks after as necessary.

The Oracle financial or “Integrated System” contains the official records for all Sponsored Program awards (“G” or “Z” accounts). All reporting must match the figures in the Integrated System. Unallowable, unallocable or unreasonable costs are expenses not in compliance with specific sponsor terms and conditions or governmental requirements and must be removed to a departmental non-sponsored account. See Compliance section for more information.

Some large grants require interest to be paid on the funds held by the university. If this is the case interest is calculated and applied quarterly. The interest amount for each quarter can be seen in Oracle, GM, Award screen on an installment line.

Financial Reports often are required to be submitted directly to our Sponsors, or they may be required to be included as part of our principal investigator’s Technical Report. Coordination with osp-postaward@virginia.edu is encouraged to ensure the sponsor’s contractual terms are complied with, as well as the principal investigator’s needs met.

Some sponsors, as a condition of their funding an award, require cost share expenditure information in their financial reports. In those cases where augmenting information is needed, the Post-Award staff will send a form to be completed and the departmental personnel need to provide the data.

In some cases the financial reporting requires such detailed reporting that the departmental fiscal contact must complete the additional information and provide it to Post-Award. An example would be estimated hours for the period by faculty.