Financial Policies

Policies related to the financial operation of the University of Pennsylvania

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Last Reviewed May 2024

2134 – Expense Approval and Documentation Requirement

To provide an understanding of required documentation indicating approval for expenses charged to sponsored projects

2100 – Sponsored Projects

Research Services

Last Reviewed May 2024

2135 – Monitoring Subrecipients Not Subject to OMB Uniform Guidance

To establish responsibility for monitoring subrecipients receiving federal funds but not subject to the Office of Management and Budget’s (OMB) Uniform Guidance single audit or program-specific audit (2 C.F.R. Part 200.501)

2100 – Sponsored Projects

Research Services

Last Reviewed May 2024

2136 – Principal Investigator Eligibility

To establish the criteria permitting individuals to fulfill the role of Principal Investigator or co-Principal Investigator on a sponsored project

2100 – Sponsored Projects

Research Services

Last Reviewed May 2024

2137 – Revised Final Financial Reports

To ensure that the revised final financial reports are submitted so as to mitigate any financial loss to the University or return of funds with interest to the sponsor.

2100 – Sponsored Projects

Research Services

Last Reviewed May 2024

2138 – Direct Cost Expenditures for Non-Federal Organizations

To establish guidelines for the charging and approval of expenditures on awards from non-federal sponsors which do not reimburse the University at the approved Facility and Administrative cost rate.

2100 – Sponsored Projects

Research Services

Last Reviewed May 2024

2139 – Faculty Summer Effort & Salary

To define the requirements for faculty having appointments less than 12 (twelve) months who choose to work and receive compensation from a sponsored project during the months of June, July and/or August.

2100 – Sponsored Projects

Research Services

Last Reviewed May 2024

2140 – Sponsored Projects Compliance Certification Program

To establish the requirement for individuals who carryout functions related to sponsored projects administration and identifies the responsible individual who will determine these individuals.

2100 – Sponsored Projects

Research Services

Last Reviewed May 2024

2141 – Review of Agreements for Potential Tax Consequences

To ensure that agreements for research and other sponsored projects are reviewed for potential tax consequences.

2100 – Sponsored Projects

Research Services

Last Reviewed May 2024

2142 – The University Of Pennsylvania’s Notice Regarding U.S. Government Policy Against Human Trafficking and Forced Labor

The U.S. government has adopted a policy prohibiting human trafficking, sex trafficking, forced labor, and trafficking-related activities.  As a recipient of federal funds from grants, cooperative agreements, and contracts (collectively, “awards”), the University of Pennsylvania is obligated to inform its employees, agents, independent contractors and subrecipients performing awards, regarding the U.S. government’s policy.  The University of Pennsylvania opposes human trafficking, sex trafficking, and forced labor, which are inherently harmful and contrary to the University’s core values, and which may violate applicable foreign, U.S., state, and/or local laws.

2100 – Sponsored Projects

Research Services

Last Reviewed May 2024

2143 – Sponsored Project Equipment – Retirement

To establish responsibility for the retirement of equipment on sponsored projects in compliance with sponsor terms and conditions.

2100 – Sponsored Projects

Research Services