Most sponsored projects include a requirement to furnish the Sponsor with a technical report. The Principal Investigator bears the responsibility of preparing and submitting these reports. Reporting requirements will vary from Sponsor to Sponsor, and specific report requirements will be included in the notice of award given to the PI and to the Department Business Manager during the kick-off meeting.
It is imperative that technical reports be submitted on a timely basis. Failure to do so may jeopardize future funding for the University. A copy of each report or evidence of submission to the sponsor must be emailed to ORSP.
Most sponsors require financial reporting to determine the use of sponsored funds on either a monthly, quarterly, annual, or other reporting basis. The purpose of this policy is to provide guidelines for submitting accurate and timely reports in compliance with State and Federal guidelines and with other specified sponsor requirements.
ORSP Post Award is responsible for the following types of reports:
- Financial Report – The accounting of expenditures incurred during the period of performance and/or at the conclusion of the sponsored project.
- Final Financial Report – The process at the end of a sponsored award by which the University completes the required financial report and submits it to the sponsor in accordance with the Award Closeout Procedures.
- Invoices – The invoice is a request for payment identifying the amount the sponsor owes. Cost reimbursable invoices are prepared after the close of an accounting period. Fixed price invoices are prepared and sent as set forth in the agreement.
- Non-Financial Reports – At the time of the final financial reporting period, ORSP Post Award will also complete any required reports, such as a Final Report of Inventions, Final Inventory of Equipment, etc.
ORSP Post Award will submit financial reports and invoices to sponsors that:
- Accurately reflect the actual expenditures of sponsored funds as recorded in the financial records kept in the People Soft (PS) enterprise system used by the University; and
- Are in compliance with the sponsor's terms and conditions.
Achieving compliance with this procedure is a responsibility shared by the Principal Investigator (PI), and the departmental business offices.
The PI and/or designee must ensure that prior to financial reporting and invoicing, all expenses are allowable, allocable, reasonable to the project, and any required adjustments to expenses are posted in compliance with accounting, reporting, and close-out procedures.
ORSP Post Award will review and use the financial information in the PS general ledger, to complete financial reports. Unallowable costs posted to the general ledger will not be included in the final report or will be credited and notated the on report when the error is identified.
If adjustments are required to accurately reflect project activity, departmental personnel must submit the reallocation documentation and adequate justification through ORSP for approval in a timely manner in order for the expenses to be included in the final report to the sponsor.