Fund EstablishmentUpon receipt of an award for a grant, contract, or cooperative agreement, the Office of Sponsored Programs (OSP) formally requests that CGA establish a separate Banner fund number for the project. Expenditures incurred in the performance of the project are charged to this fund number. As part of this process, CGA establishes corresponding Cost Share Orgs when required by the agreement.
Review of Direct Cost Expenditures to AwardsFor expenditures to be allowable costs recorded onto a sponsored fund, they must be:
- Consistently treated
- Allowable per sponsored award or 2 CFR Part 200
Invoicing and Financial Reporting to SponsorPer University policy, CGA is solely responsible for the timely invoicing and financial reporting to sponsoring agencies. Included in this task is the performance of Federal Letter of Credit draws. Invoicing and reporting will be conducted per the terms and conditions defined within the award document.
CollectionsPer University policy, CGA is solely responsible for the collections of sponsored funds and recording the receipts to the appropriate project fund.
Effort CertificationCGA is charged with the administration and maintenance of the effort reporting system. It is, however, the responsibility of the Principal Investigator and other responsible individuals to accurately and timely complete the certifications as directed by University policy.
Duplicate VouchersSome sponsors may require detailed, supporting documentation of expenditures reported on invoices and financial reports. While CGA will reconcile and forward to the sponsor, it is the responsibility of the Principal Investigator and his department to provide the documents to CGA for review. Failure to provide the information may impact the University's ability to get reimbursement.
AuditsIn addition to the Review of Direct Cost Expenditures to Awards noted above, CGA assists in the annual financial statement audit. CGA is the primary contact in the annual single audit required by 2 CFR Part 200, Subpart F and all program audits performed by specific sponsoring agencies.