FAQ - Sponsored Projects

What is a sponsored project?

A sponsored project is a project that receives an award or funding from a sponsor for research or other restricted purposes.

Who will set-up sponsored projects?

A set-up team comprised of Office of Research and Economic Development (ORED) and Grants and Contract Accounting (GCA) personnel will handle the setups of sponsored projects in the projects module.

Will the Office of Research and Sponsored Programs (ORSP) budget templates change to include all new natural accounts available in the new chart of accounts?

Yes.

Can expenditures on a project be adjusted?

Yes. Cost adjustments can be made to projects only when they are allowable, can be allocated and are necessary in sponsored projects.

Will there still be the 90-day window for closeout of sponsored projects?

The 90-day window is only for select federal awards and for reporting purposes.  The 90-day window is a closeout period where pending costs are paid and reports are finalized.  It is not to be used to spend down awards or move costs between projects unnecessarily. New transactions after the end date of a sponsored project are still not allowable.

Can charges be posted after the end date of a sponsored project?

All expenditures have to occur within the grant period indicated by the sponsor.

How much historical data will be moved to the new General Ledger?

For active sponsored projects (grants/contracts):

  • Inception-to-date total expense, broken out by natural account
  • Inception-to-date total amount billed
  • Inception-to-date total cash received

What information will be on the compliance tab?

The compliance tab is for items pertaining to the Internal Review Board (IRB). For example, human or animal protocol.

What is the invoiced amount?

The invoiced amount is the total amount billed to the sponsor.  GCA will create all invoices for grants and contracts.

What is recognized revenue?

Recognized revenue is the amount spent which is flagged as billable to the sponsor on a grant or contract.

How does the IRB work with the projects module?

The IRB will work in the same manner as it does today.  The IRB does not interface into the projects module.