Effective Grant CloseOut Management NCURA Region V, 2005 Spring Meeting Tulsa, OK

1
Effective Grant Close-Out ManagementNCURA Region
V, 2005 Spring MeetingTulsa, OK

• Kay Martin
• Govind Narasimhan
• Finance Contracts and Grants
• University of Texas Medical Branch

2
Session Objective

• Highlight close-out management is important
• Discuss close-out management opportunities
• Focus on DHHS funded grants
• OMB Circulars
• UTMB procedures

3
Why is it important

• Good business practice and fiscal management
• Impact on operation and staff
• Strengthens partnerships
• Required!! - OMB Circulars and award conditions
• Culture of compliance

4
Opportunities - Functional

• At proposal and award stage
• Extensions, Renewals and Contract Modifications
• Identify special issues
• Define Researcher role and responsibility
• Currency with industry hot topics
• Big picture and Institutional capabilities
• Continuous learning
• Communicate

5
Opportunities Functional

• Sub-recipient management
• Effort reporting and Cost Sharing
• Cost principles
• Post Award management
• Reliable systems and management reports
• Manage for compliance
• Strike balance between Business Office role and
  Researchers responsibility

6
Opportunities Fiscal

• Financial systems and policies
• Month and year end close related transactions
  (accrual, payroll, service center charges)
• Tracking tools and management reports
• Timely financial reports and billings
• AR and Revenue management
• ?????

7
DHHS Funded Grants - close out opportunities

• NOGA and other award terms and conditions
• Grant number / award type
• SNAP, Expanded Authorities
• FDP terms, Carry forward restrictions, other
  programmatic restrictions
• LOC Document number
• Reports due Financial and Programmatic

8
DHHS Funded Grants - close out opportunities

• Operational
• Manage effort reporting
• Monitor un-allowable costs
• Manage re-budgeting and cost transfers
• Manage appointments and personnel changes

9
DHHS Funded Grants - close out opportunities

• Operational
• Manage sub-contracts and sub- recipients
• Non-Competing and Competing renewals
• Relinquishing statements
• Invention statements
• Technical and progress reports

10
DHHS Funded Grants - close out opportunities

• Fiscal
• Timely posting of transactions
• Deficit management
• FA recoveries
• Liquidate obligations

11
DHHS Funded Grants - close out opportunities

• Fiscal
• Coordinate 272 reporting
• Consider restricted funds, transfer grants,
  renewals, significance of document ID
• Coordinate LOC draws

12
DHHS Funded Grants - close out opportunities

• Fiscal
• Establish reconciling tools, opportunities,
  trouble shooting threshold and criteria
• FSR preparation and submission
• process must be well defined

13
DHHS Funded Grants - close out opportunities

• Functional and Fiscal
• Sub-Recipient management
• Effort Reporting
• Appointments and personnel changes
• 2590 process

14
DHHS Funded Grants - close out opportunities

• Functional and Fiscal
• Cost Transfers
• Rebudgeting
• Cost sharing
• Close out entries

15
OMB Circulars

• A-21 Cost Principles
• A-110 Administrative Requirements
• A-133 Audit Standards
• Other

16
UTMB Procedures

• Pre-Award and Contract Negotiation
• Project Set up
• Milestones identified
• Post Award Non Financial
• Contracts Grants - Financial
• Renewals and Continuations

17
UTMB Procedures (Cont)

• Re-budgeting and Cost Transfers
• Management reports
• FSR due
• 60, 90, 120 days notices,
• Deficits and Encumbrance report
• ACL sampling for Compliance

18
UTMB Procedures (Cont)

• Month end close
• Revenue analysis
• FA, Pass through to analysis
• Rolling 12 financial

19
UTMB Procedures (Cont)

• Cash Draws against LOC
• Pro forma report
• Verify contract limits
• Quarterly 272 reporting
• Authorized amount Vs Outlays
• Budget Vs Deficits

20
UTMB Procedures (Cont)

• FSR process
• Head start
• Ledgers
• Encumbrances
• Departmental interaction
• Worksheet Process
• A Z Reconciliation
• FA and other adjustment entries
• Finalize

21
UTMB Procedure (Cont)

• FSR Process
• PI Concurrence
• Negative confirmation
• Fiscal Officer Signature
• Submit or Mail report
• Update Milestone and Database

22
UTMB Procedure (Cont)

• Post FSR
• Verify all funds drawn
• Close bill and revenue plans
• Review balance sheet
• Coordinate with Post Award
• Confirm close-out with Sponsor
• Perform close-out in Database
• Label file Closed
• Close bill and revenue plans
• Close bill and revenue plans

23
Kay Martin

• Financial Analyst II
• Finance Contracts Grants
• PH [phone]
• FAX [phone]
• Email kamartin_at_utmb.edu

24
Govind Narasimhan

• Finance Manager II
• Finance Contracts Grants
• PH [phone]
• FAX [phone]
• Email gonarasi_at_utmb.edu