Financial Policies

To establish policy for the accounting of costs which are unallowable charges against federally sponsored projects.

To establish responsibility for the procurement of goods and services with sponsored project funds.

To ensure sponsored project related regulatory requirements are met when costs charged to sponsored projects were initially charged to other accounts.

Purpose: To comply with the federal Office of Management and Budget’s Uniform Administrative Requirements, C.F.R. 200 § 430 and other sponsor requirements for certifying that effort expended on a project is at least commensurate with the salary charged against the sponsored project

To ensure compliance with Federal regulations for accurately developing and costing service center charges to federally sponsored projects.

To establish policy regarding the charging of Facilities and Administrative (F&A) Costs to Sponsored Projects

To provide policy regarding the preparation of the sponsored project Federal F&A cost rate proposal submitted to and negotiated with the Department of Health and Human Services (DHHS).

To designate responsibility for negotiation of F&A cost and employee benefit rates with the Federal government for expenses incurred in the performance of federally sponsored agreements.

To establish policy for the identification, funding, accounting, and reporting of cost sharing or matching requirements in conjunction with a sponsored project.

To ensure compliance with financial reporting and audit requirements under individual sponsored project agreements which stipulate matching gift requirements.