Policy Manual

To establish responsibility for the resolution of delinquent payment and/or nonpayment of project costs by sponsors.

To ensure compliance with Office of Management and Budget Uniform Guidance (2 C.F.R. , Part 200) as codified by the federal grant making agencies and other sponsors’ policies regarding the timely submission of financial reports of expenditures.

To establish responsibility for the accurate and timely close-out of completed sponsored projects in compliance with the sponsor’s terms and conditions.

To establish authority and responsibility for the close-out of sponsored project accounts.

To establish responsibility regarding unresolved sponsored project overdrafts and disallowances.

To establish responsibility for the coordination of external audits, reviews, inquiries, and investigations of sponsored projects

To establish responsibility for compliance with the Office of Management and Uniform Guidance 2 C.F.R. Part 200.330-337 (as it relates to the University’s responsibilities in making awards to subrecipients).

To establish responsibility for the retention of records, including documentation supporting project expenditures, in accordance with the sponsors’ requirements. Since its implementation in 2007 these records are stored electronically via document imaging system.

Some federal agencies and some non-federal sponsors provide cash in advance of the work to be performed under a sponsored project. This policy establishes the appropriate accounting treatment of these cash advances.

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