- Prepare and submit the institution's official financial reports and invoices to sponsors.
- Apply payments from sponsors and follow up on those that are past due.
- Close out awards in PeopleSoft Financials (also called the Enterprise Financial System, or EFS).
- Handle all audits related to sponsored projects.
|Activity||What SFR Does||What Departments Do|
|Financial Reports and Invoices||Issue required financial reports and invoices to sponsor.||Review and confirm draft reports and invoices from SFR accountant within established deadlines (listed on this page). Instructions for running UM Transaction Detail by Invoice/Report Number.|
|Payment Application (Revenue)||Ensure revenue is applied to the appropriate sponsored award when payments arrive.||Review expenditures on a regular basis and remove unallowable expenses and/or overdrafts; contact SFR accountant with updates/alerts about pending payments.|
|Collections||Follow up with sponsors on the status of past due payments.||Assist/provide any updates/alerts or additional contact information for sponsor as requested by SFR.|
|Award Closeout||Close out awards in EFS after they have ended, and all payments are received.||Use the Post Award Management Dashboard, ensure all items noted have been completed; respond requests/directions from the SFR accountant.|
|Audits||Coordinate all aspects of the audit including serving as the University's primary contact with auditor.||Alert the SFR accountant assigned to the sponsored award upon receipt of an audit notification; assist/provide additional information as requested throughout audit.|
|Activity||What Departments Should Not Do||Why|
|Financial Reports and Invoices||Create and send financial reports or invoices to the sponsor.||This task is delegated solely to SFR through the University's delegation of authority policy.|
|Payment Application (Revenue)||Make cost transfer entries for charges that are more than a year old or 90 days past the award end date.||If the award ended more than 90 days ago, the final financial report/invoice have been submitted to the sponsor and SFR will have to adjust them.|
|Collections||Make any agreements with sponsors related to past due amounts.||There are certain thresholds that require varying levels of institutional signatory authorization on such agreements.|
|Award Closeout||Process small dollar/penny JEs to zero out budget lines.||When lines are less than +/- $35, SFR will process the journal/write-off.|
|Audits||Respond to audit inquiries and provide requested documentation directly to the auditor.||SFR accountants are trained and follow an established process for handling audits.|
Number of days following award termination that departmental review of financial reports and financial draw/invoice submissions are due back to SFR:
- USDA - Food and Nutrition Services - 81
- NASA - 80
- USDE - 55
- Other federal letter of credit sponsors, including DHHS and NSF - 85
- All other sponsors: 5 days before the due date stipulated in the award's terms and conditions
Resources and Forms
- Department Accountant Contact List (Google Sheet)
- Department Accountant Change Request Form (Google Form)
- Post Award Management Dashboard (UM Analytics)
- Clinical Trial Invoice Template
Frequently Asked Questions
- Who is my SFR Accountant or SPA Grant Administrator?
See this listing that shows information about SPA Grant Administrator support areas or the SPA staff listing. SFR Accountants can be found using this organizaitonal chart, scroll to the pages for Sponsored Financial Reporting.
- I am new to post award, what should I set up to help me manage?
There's a helpful post award checklist on the Grants Management User Network page.
- What do I do if I receive a notice of audit for a sponsored project?
Forward the notice to the SFR accountant assigned to the award.