The Director of Contracts and Grants, who is assigned to the Controller's office, is responsible for overall sponsored program financial reporting compliance. She manages the University’s sponsored programs cash flow and reporting and samples award transactions for compliance.
Proper management of funds is vital not only to the Principal Investigator (PI), but to the University as a whole. Mismanaged grant and contract funds could result in the University losing all Federal funding – including funds used for student financial aid purposes. Funds management is tracked through reporting of expenditures, actual time and effort, and cost sharing. When a grant or contract ends, certain steps must still be taken to close out the award.
The Contracts and Grants office handles the following tasks:
Grant/fund set-up and Banner budget entry
Subcontract review and encumbrance
Expense documents review/approval (travel, direct pay, personnel actions, tuition)
Journal voucher processing for cost transfers
Release time processing
Time and Effort Reporting:
When a portion of an employee's salary is paid from a grant, or a portion of the employee's salary is committed as contribution to a grant, that employee must certify that he or she has, in fact, devoted the required portion of his or her effort to the grant. To document compliance with grant commitments, a certification form must be completed for the PI, as well as any other personnel assigned to the grant at the completion of the fall, spring, and summer semesters. The form of the certification is specified by UNC Contracts and Grants Standards. At the end of each semester, the Contracts and Grants office will provide an individualized form for each employee required to complete an effort certification. Where an employee completes a regular time sheet indicating hours worked towards a grant, that timesheet is sufficient for compliance. Salaried employees must account for 100% of their paid effort each semester, indicating, for example, what percentage of effort was devoted to ordinary teaching duties, and what percentage was devoted to a grant. Even where a PI's salary was paid 100% by his or her department, he or she may certify that he or she devoted 35% of his or her effort to a grant, if such effort was committed as part of the grant agreement. PI's should refer to their specific agreements with granting agencies to ensure that they and the employees they supervise are devoting sufficient effort to grants.
Account Close Out:
The Contracts and Grants office will remind you 90 days prior to the end of award close out procedures.
Check list will be sent 30 prior to the end of the award. Complete the critical, time sensitive actions indicated on the check list including:
- Personnel actions – move personnel to another fund or terminate employees
- P-Cards – move to another fund or terminate
- Purchase Orders – determine if any purchase orders are outstanding – liquidate, expedite delivery or move to another fund. Make sure all purchased items have been received, invoiced and paid for prior to the end date
- Communications equipment – move to another fund or terminate service
- Travel – verify that all travel reimbursements have been submitted and are paid by the project end date
- Subcontracts – verify all deliverables have been met and final invoice received and processed for payment by the project end date.
Please contact Nancy Wike, Director, Contracts and Grants, at 227-2498 or email her at firstname.lastname@example.org, if you have any questions on any of these items or about the award management process.