Post Award Management
Post Award Overview
When the Office of Sponsored Projects officially accepts an award on behalf of the College, Post Award Management begins with the establishment of an account and ends with the final close-out/audit of the award.
Post Award include the following issues:
- Assignment of an account in the College’s Finance System (Banner)
- Proposal status and notification
- Award acceptance
- Invoicing and reporting requirements to agencies
- Budget amendment and program revisions
- Processing No Cost Time Extensions
- Approval of equipment purchases => $5,000
- Approval of Expenditure Approval Report Form (EAR)
- Process contractual relationship with lower tier sub-recipients
- Process payments of sub-award/sub-contract requests
- Review of Direct and F&A (Indirect) Costs charged
- Cash Management
- Federal Reporting
- Foreign Travel Approval
- Cost principles interpretation of allowable costs
- Account close-out
- Account external and internal audits
Upon Award Notification and Acceptance
The sponsor will inform the College of the acceptance of a proposal with an award. The award notice must be received by the Office of Sponsored Projects before the College will assign an account in the College Finance System (Banner) and will notify the appropriate individuals once the account has been created. Online access will be established via Banner Web for monitoring the financial activity associated with the award. If the award notice is received by the Principal Investigator/Project Director they should send a copy immediately to the Office of Sponsored Project for the Post Award Management process to be initiated.Occasionally a funding agency may request proposal revisions before funds are committed which could require clarification of project objectives or may require the reallocation, modification or withdrawal of certain budget line items. Carefully study should be made to determine if the objectives of the proposal if funding is significantly modified will allow completion of the scope of the project. Faculty does not have the authority to make any financial commitments on behalf of the College and must involve the Office of Sponsored Projects in any negotiations with a funding agency. All revisions must be in writing and signed by both the Principal Investigator/Project Director and a member of the staff from the Office of Sponsored Projects.
Duties of the Principal Investigator/Project Director
In accepting a grant or contract the College assumes an obligation to administer the award in compliance with all applicable institutional, agency, federal, state or other regulations governing the use of the funds awarded. Likewise, the Principal Investigator/Project Director agrees to abide by the terms and conditions of the award and manage the funds within the approved budget.
The Principal Investigator/Project Director will initiate all requests for funds drawn from the account for the direct costs associated with the award using College approved forms and procedures, approve budgetary and programmatic changes, prepares technical reports and ensures that individuals under the grant are also familiar with all related compliance issues.
There is a certain degree of latitude in transferring funds between line items within the budget of no more than 10%. If transfers exceed 10% a revised budget submission will likely be required and submitted for approval by the Program Officer associated with the agency and the award. If this is necessary please contact the Office of Sponsored Projects as early as possible.
Many agencies will allow a one-time, No Cost Time Extension of up to 12 months if the Principal Investigator/Project Director is unable to complete the original scope of the project within the designated timeframe that was outlined in the proposal. This will require a formal written request that will need to include a detailed justification for the requested extension and a plan for completing the work and estimate of unexpended funds. This request should be made well in advance of the expiration date of the award and will need to be signed by the Principal Investigator/Project Director and the Director of the Office of Sponsored Projects.
College Funding Prior to Award Notification
Only under extenuating circumstances will the College fund a project prior to receipt of the Notice of Award notification by the awarding agency and assign an account in the College’s Finance System (Banner). The Principal Investigator/Project Director must contact either the Provost or the Dean of the School of Pharmacy and submit a reasonable explanation for the needed funding that requires the use of College resources. If prior funding by the College is approved, the Provost or the Dean of the School of Pharmacy will communicate that approval to the Office of Sponsored Projects and the Principal Investigator/Project Director before any actions will be taken to acknowledge the beginning of the project.
Notification of Award
When a grant or project has been awarded the Office of Sponsored Projects will notify the Principal Investigator/Project Director. Some federal agencies do allow for prior award costs but many agencies do not. Expenditures should occur within the project’s stated and approved timeframe. Costs cannot be honored after the expiration of the project’s final funding end date unless the agency has granted a No Cost Time Extension.