Carnegie Mellon University Sponsored Projects Accounting (PA17) Interim Financial Reporting Procedures Updated: June 30, 2017 Frequency:

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1 Carnegie Mellon University Sponsored Projects Accounting (PA17) Interim Financial Reporting Procedures Updated: June 30, 2017 Frequency: As Needed Responsible Staff: Post Award Accountant Approval Required: Manager / Assistant Manager, Post Award Accounting Summary: Some sponsors require interim financial reporting in addition to a final accounting of expenditures. Interim financial reporting requirements vary by sponsor. For each interim financial report due, the award must be reviewed on a projecttodate basis prior to submitting the report to the sponsor. Invoice requirements are not classified as interim financial reports. NOTE: NIH awards should be reconciled annually to verify that the carryover is not greater than 25% of the award. Procedure: 1. Review award documents and obtain the following information: Oracle Project and Award Numbers make sure to check for multiple awards and/or projects linked to the project being closed (use the Funding Inquiry screen in Oracle) Funding Source Award Number Cumulative and/or Current Budget Period Mandatory Cost Sharing Requirements, if any Award Terms & Conditions which may restrict funding or have a potential financial impact All interim reports required to be submitted 2. Completion of Financial Report Print an Award Summary Sheet for the report period end date Complete the Financial Report in accordance with the Award Summary Sheet. The format of the Financial Report will vary by sponsor. Review the award documents to determine which format is required. 3. Internal Reconciliation and Review Complete an Interim Reconciliation Package. Either the short form (ATTACHMENT PAAP) or the long form (ATTACHMENT PAAQ) should be used, depending upon the type of interim report required. The long form must be completed if a copy of the recon is needed for the cash management representative to prepare the invoice. Other reasons may require the use of the long form as well. Review typically Questionable Costs and identify any that need additional justification from the department. Include any questionable costs with inadequate justifications as adjustments on the recon. Identify any other notable items that would require immediate discussion with the Business Manager. 4. Completion of Additional Reporting Documents 1

2 Interim Reporting documentation will vary by sponsor. Review the award documents to determine if additional documentation is required. Additional documents which may be required are: Interim Report of Inventions and Subcontracts (i.e., DD882, etc.) Interim Property Report (i.e., DD1662, NASA1018, etc.) Annual Subcontracting Report for Individual Contracts (SF294) Interim Patent/Invention Reports If the award document requires an interim report of patent/inventions, this report may be required even if no patents/inventions were developed under the research project. Before completing the report, review the award file(s) to determine if you already have documentation showing that patents/inventions were developed and previously reported. If such documentation exists, you will need to list the patents/inventions on the appropriate document. Whether or not there is documentation in the file(s) regarding patents/inventions, you still need to send an to the PI. If you are already aware of patents/inventions developed under the award, ask the PI to verify that your list is complete. If there is no documentation regarding patents/inventions on file, ask the PI to verify that a negative report should be filed with the sponsor. Prepare the appropriate patent/invention report, attach the PI s certification ( ) to the form and route the report to the following people/departments for review: CTTEC they will confirm that the information included in the report ties to the information in their database of patentable information Director, Sponsored Projects Accounting required signature on the report 5. Submission to SPA Management for Review The award files, along with all working papers, Financial Report(s), Reconciliation Sheets etc., should be organized in consecutive order, and submitted to the Post Award Manager / Assistant Manager for review. The SPA Manager / Assistant Manager will review the reconciliation package, countersign Reconciliation Sheet to indicate approval and return the files to the SPA Rep. The SPA Manager / Assistant Manager will complete the SPA Interim Reconciliation Review Sheet (Attachment PAAR) indicating if changes are required. Once you make any necessary corrections, enter your comments and return the file to the SPA Manager / Assistant Manager for final review and approval. 6. Submission of Report(s) to the Sponsor Once SPA management has reviewed and approved the financial report(s) and reconciliation package, the SPA Rep must submit the required report(s) to the funding agency at the address provided in the award documents. The signed documents should be submitted to the sponsor. The signed report and proof of submission should be included the with report package. 7. Submission of Reconciliation Package and Report to the Department Once the report has been successfully submitted to the sponsor, the SPA Rep must the entire reconciliation package, along with a copy of the signed report to the Business Manager for their records. Any notable issues that require immediate communication as well as questionable costs should be addressed in this . A copy of this must be printed and included in the interim reconciliation package. 2

3 8. Scanned Interim Reconciliation Package into ECM Once completed, the entire interim reconciliation package is to be scanned to the individual SPA Rep s queue in ECM. The SPA Rep will then link the document to the sponsored award. The document type used should be SPA Reporting/Closeout Package and the applicable custom properties should be completed, such as the type of report, the SPA Rep who completed the report, and the report period end date. This will then get routed forward to File Away. 9. Update to the Report Tracker The SPA Rep will add a Submission Date to the report tracker for that report record, showing it as completed with any relevant notes. 3

4 Sponsored Projects Accounting ATTACHMENT PAAP Page 1 Interim Sponsored Award Reconciliation General Award Information Oracle Project #: Period of Performance: Report Period End Date: Is there mandatory Cost Share?: If yes, how much? (% or ): Cost Sharing Award #(s): Matching Award #(s): No Sponsored Award Reconciliation Attach Award Summary Report and Pivot Table for backup Cost Sharing Reconciliation Attach Pivot Table for backup Expense Reconciliation Total Obligated Funding: Sponsored Expenses through Report Period End Date: Unobligated Balance: Is the Oracle award overspent? If Overspent, reported expenses are limited to: Total Cost Share Required: No Cost Share Expenses through Report Period End Date: Balance: Direct: Indirect: Total: Sponsored Award: Cost Sharing Award: 0.00% Indirect Cost Reconciliation Expenses Posted in Oracle Expenses Posted in Oracle Total Direct Costs: Total Direct Costs: Grad Tuition: Grad Tuition: Capital Equipment: IC Charges: Participant Support: Subcontract Expenses > 25K: Total : Sponsored Indirect Cost Base: Participant Support: Capital Equipment: IC Charges: Subcontract Expenses > 25K: Total : Indirect Cost Base: Comments Manual F&A Calculation* Manual F&A Calculation F&A Calculation: F&A Calculation: F&A Burdened in Oracle: F&A Burdened in Oracle: Adjustment Needed: Adjustment Needed: *If a Manual F&A Adjustment >1 is required on the sponsored award, include a reason/justification in the comments section. Approval SPA Representative: SPA Manager: Date: Date:

5 Sponsored Projects Accounting ATTACHMENT PAAQ Interim Sponsored Award Reconciliation Page 1 General Award Information Oracle Project #: Period of Performance: Report Period End Date: Funding Source Name: Funding Source Award #: Principal Investigator: Award Organization Name: Is there mandatory Cost Share?: If yes, how much? (% or ): Cost Sharing Award #'s: Matching Award #'s: Budget Reconciliation Total Budget Faculty Salaries Tech/Professional Salaries Fringe Benefits Grad Stipend Grad Tuition Operating Expenses Travel Subcontracts Capital Equipment Indirect Costs Awarded Budget: Oracle Budget: Variance: Expenditure Categories Sponsored Award Budget Sponsored Expenses per Oracle Pending Adjustments to Sponsored Award Cost Share Expenses per Oracle Pending Adjustments to Cost Share Total Project Expenses Cost Sharing due to Overexpenditure Total NonSponsored Expenses Total Sponsored Expenses Residual Funds Expenditure Reconciliation Faculty Salaries Tech/Professional Salaries: Fringe Benefits: Grad Stipend: Grad Tuition: Administrative Salaries Operating Expenses: Domestic Travel: Foreign Travel: Subcontracts: Capital Equipment: Grad Student Federal WS Cost Sharing Direct: Total Direct Costs: Manual F&A Adjustment: Auto F&A Adjustment: Indirect Costs: Total Costs: Comments Please note that this recon reflects all expenses that have posted in Oracle through the end of the current report period. Additional justification may be needed for costs that are typically questionable prior to submitting any final reports. Approval SPA Representative: Date Prepared: SPA Manager: Date Approved: Is this a REVISED recon?: No

6 Page 2 Sponsored Projects Accounting Interim Sponsored Award Reconciliation General Award Information Oracle Project #: Period of Performance: Report Period End Date: Is there mandatory Cost Share?: If yes, how much? (% or ): Cost Sharing Award #'s: Matching Award #'s: Sponsored Award: Cost Sharing Award: 0.00% Indirect Cost Reconciliation Total Direct Costs: Oracle Expenditures Pending Adjustments Oracle Expenditures Pending Adjustments Total Direct Costs: Grad Tuition: Grad Tuition: Capital Equipment: Capital Equipment: IC Charges: IC Charges: Participant Support: Participant Support: Subcontract Expenses > 25K: Subcontract Expenses > 25K: Total : Sponsored Indirect Cost Base: Total : Indirect Cost Base: F&A Calculation: F&A Burdened in Oracle: Adjustment Needed: Manual F&A Calculation* Auto F&A Calculation Manual F&A Calculation Auto F&A Calculation F&A Calculation: F&A Burdened in Oracle: Adjustment Needed: *If a Manual F&A Adjustment >1 is required on the sponsored award, include a reason/justification in the comments section on Page 1.

7 Sponsored Projects Accounting Award Information ATTACHMENT PAAR INTERIM Reconcilation Review Sheet Carnegie Mellon University SPA Rep: Report Due Date: Corrections/Clarifications Needed Manager Notes/SPA Rep Response: This recon needs corrections. Please return to: Date(s): This recon has been successfully reviewed by the SPA Manager Signature: Post Review Action Items: This recon requires the following: Date Completed/Initials Date Completed/Initials Printed Confirmation of Report Submission Questionable Costs Sent to Dept for Review F&A Exception Entry An update to the record in the tracker Copy of Financial Report to BM Is recon required by CM for invoicing purposes? If so, a copy was provided on: Other: