Sponsored Projects
AWARD PROCESS: EXTERNAL AWARDSCongratulations on receiving your award! Please review the following information about how the ORA staff operates once award notification is received.
Award Setup:
Once funding has been awarded and the ORA has received the award notice from the agency, the ORA will set up a project number and MoCode in the PeopleSoft Grants Module. The agency-approved budget will be entered into the system. If the project includes cost sharing, a MoCode will be set up based on the DeptID provided by the department. A Grant Award Summary will be generated and emailed to the Principle Investigator (PI), chair, dean and, if requested, the appropriate fiscal officer.
Vouchers and PAFs:
Vouchers for purchases over $2,500, subcontract payments, consultant payments, and Personnel Action Form’s (PAF) will be reviewed by the ORA. Expenses also will be reviewed to ensure they are approved in the budget. These documents are also checked for the appropriate authorized signatures.
Interim and Final Financial Reports:
The ORA Accountant will complete all interim and final financial reports based on the dates given in the award or contract. The PI is consulted to ensure that all appropriate expenses have been included in the final financial report. Copies of all financial reports will be sent to the PI.
Invoices:
The ORA Accountant is responsible for all grant project invoicing except for letters of credit. In some instances, the ORA may need information from the PI to submit an invoice. Copies of invoices prepared in the ORA will be sent to the PI. The Office of Sponsored Projects Administration (OSPA) in Columbia handles letters of credit and electronic payments for many of the federal agencies. The PI is consulted when the final invoice is being prepared to ensure all appropriate expenses are included.
Closeout:
The ORA will send a letter to the PI 90 days before the project’s end date as a reminder that the project is due to expire and that either a technical report may be due or an extension may be needed. If there is no response from the PI, the closeout procedures begin after the project has expired. The expenses are reviewed on the PeopleSoft Budget Variance #8 Report, and the financial report is prepared. The PI will be notified to make sure all appropriate expenses have been included. Remaining funds (if not a fixed price contract) are returned to the agency. The project is inactivated in PeopleSoft.
If the project is fixed price, the PI can request that the project be extended for up to one year, which allows the project to remain active and the PI to continue with the project for that period of extension. If the project is to be closed out, any remaining funds will be transferred to the PI’s assigned departmental Grants Incentive Fund MoCode.
ADDITIONAL EXTERNAL AWARDS RESOURCES