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2	What is a Sponsored Program? Awards that start with a “G” Funds provided by an external sponsor in the form of a Grant or Contract Each Grant or Contract has a named Principal Investigator who has the overall responsibility for award expenditures. Each Grant or Contract has it’s own associated contractual terms and conditions.
3	Know your grant! Review Sponsors Notice of Award (NOA) and the OSP NOA. Verify that all data on both are accurate Direct & Indirect (F&A) dollar amounts Begin, End, and Close dates Verify Grant dollar Amount is the same as the budget Verify F&A / Indirect Cost rate is correct Familiarize yourself with the Terms and Conditions Know whether award has cost-sharing or not
4	Types of Costs on Sponsored Programs Direct Costs Costs that provide direct benefit to a sponsored project’s scientific or technical scope of work. Facility and Administrative (F&A) or Indirect Costs The negotiated F&A rate is applied to the direct costs to add the cost of space, utilities, office supplies, and other essential infrastructure ‘overhead – type expenses.
5	Direct Cost Examples Just like the costs reconciled on non-sponsored program awards Salary Wages OTPS types of costs
6	F&A Costs (Indirect Costs) F&A will be charged to all qualifying direct costs charged to your sponsored program. How do you find the rate applied to your sponsored program? Run the Discoverer report called IS.FM_Indirect Cost Rate Schedules
7	Direct Costs Must Be: Allowable Under the provisions of the Circular AND under the terms of the particular award. Allocable The project must directly benefit from the expense. Reasonable In that a “prudent person’ would have paid the same price.
8	Direct Costs: What to look for Have expenditures been incurred during the allowed period? Are there unallowable expenditures? Has cost sharing happened where appropriate?
9	Sponsored Program Award Prefixes
10	Additional Regulations Know which Federal and Institutional regulations and policies apply. http://www.virginia.edu/sponsoredprograms/ All Federal Grants are governed by costing accounting standards stated in the Federal OMB Circular A-21. http://www.virginia.edu/sponsoredprograms/casguidelines.pdf
11	How is your award funded? Event Based Billing Sponsor invoiced based on a particular event (eg, time period, specific event such as a conducting a clinical trial, etc) Cost Based Billing Sponsor invoiced at the end of each period based on actual costs incurred during the preceding period.
12	Cost Sharing When UVA contributes money or items of value toward the cost of the project Might be required by the sponsor or may be ‘voluntary’ on the part of the institution More than a nominal amount More commonly found on grants and cooperative agreements than on contracts
13	Methods of Cost Sharing Effort percentage of Salary & Wage for specified individuals fringe benefits Cash (direct expenditure costs) Equipment Un-recovered Facilities and Administrative Costs F&A Costs
14	Cost Transfers Governed by the same costing principles as direct costs: Allowable Allocable Reasonable UVA policy: Section VIII.8-20 of UVA Procedures http://www.virginia.edu/finance/polproc/proc/8-20.html#top Requires knowledge and approval of PI OSP responsible for approving or rejecting
15	Retro Cost Transfers Applies to transfer of any grant expenditures over 90 days old, including labor distribution or awards where the end/cose date is in the past. Complete OSP Retro Request Form and send to osp-retro-request@virginia.edu Requires OSP retro approval number UVA policy: Section VIII.8-21 of UVA Procedures http://www.virginia.edu/finance/polproc/proc/8-21.html Requires knowledge and approval of PI OSP responsible for approving or rejecting
16	F&A Costs Basic rates: On-Grounds Research On-Grounds Public Service Off-Grounds Research Off-Grounds Public Service Two basic types: Total Direct Costs (TDC) Modified Total Direct Costs (MTDC) NOTE: Add web-site link
17	Review Indirect Costs (F&A) F&A accrued each day on which there are applicable direct cost expenditures. Cumulative, that is, one F&A calculation for all expenditures on a given day.
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19	30 Days prior to end of Grant Period If appropriate and at the request of the PI, file necessary paperwork with OSP to set up new preliminary (at risk) account. At PI request, file necessary paper work with OSP/Sponsor for no cost extensions. If project is in deficit, take actions to clear deficit. Notify OSP Accountant (Project Manager) of any remaining cost overruns.
20	Actions at end of Grant Period If cost sharing on the award – file report with OSP. (Note:NOA T&C may dictate more frequent reporting of Cost Sharing information) Clear out all commitments Make sure all POs are finally closed Make sure all Sub Contractor invoices have been received and paid. Make sure all p-card expenditures are included. If project is in deficit, take actions to clear deficit.