Reporting to Sponsor Agencies:Overview of

Program Performance ReportsFinancial Status Reports

And Completing theNotice of Termination Reply

Program Performance Reports

• Importance of Reports– PI provides technical up-date to

sponsor• Research progress• Summary of results

– Compliance = continuation of $$ and research and not threat of debarment

• When they are due– Specified in award or contract– Varies based on sponsor – foundation,

private company, or State agency– Quarterly, Annually, Semi-annually

Monthly, Interim (task completion)– Federal sponsors follow OMB Circular

A-110 Requirements

Program Performance Reports

• OMB Circular A-110 Requirements– The Federal Office of Management & Budget– Defines administrative regulations so there

is consistency and uniformity among Federal Agencies

• For each project award or sub-award– Annual – 90 calendar days after grant year– Quarterly or semiannual – 30 days after

reporting period– Final – 90 calendar days after expiration or

termination of the award

Program Performance Reports

Program Performance Reports

• Generally the report should include:– Comparison of actual accomplishments

with established goals and objectives– Reasons established goals not met– Other pertinent information

• Analysis and explanation of cost overruns• Explanation of high unit costs

– List of publications

Program Performance Reports

• OSR may contact PI for performance report when required for a particular financial status report

• Final Performance Report – OSR sends notice to PI indicating report

due to sponsor– If delay expected, or extension granted

PI must inform OSR

Financial Reports

• Importance of Reports– OSR prepares and submits financial

reports to sponsor on behalf of PI– Expenditure summaries of how the

budgeted monies were used– Some agencies require statements

requesting funds to be drawn down for use

– Some agencies require the University to invoice for expenditures

Financial Reports

• Timely submittal insures– University avoids penalties– Payments received from sponsor in a

timely manner– New, Supplemental, and Continuation

Awards not delayed– Extensions and carry forward

authorized– University retains NIH’s Expanded

Authorities

Financial Reports• When they are due

– Specified in award or contract– OSR tracks submission dates for all grants and

contracts– Important for department to know deadlines.

Usually due end of both Budget Period and Project Period

• Interim – covers period within a longer budget period (monthly, quarterly, semi-annually)

• Annual – typically cover a one-year period• Final – the Close Out Report is prepared at the end of a

project

– Federal sponsors follow OMB Circular A-110 Requirements

Financial Reports• OMB Circular A-110 Requirements

– SF-269 or SF-269 Financial Status Report• used to report fund status of all non-construction projects or

programs. Due 30 days after end of quarterly and semiannual reporting periods.

– SF-270 Request for Advance or Reimbursement –• used to report expenditures and as needed, reimbursement

for expenses beyond what was advanced. The report is also used to request cash advance for upcoming project period. The reports are prepared at least quarterly and more often depending on the project’s cash balance.

– SF-272 Report of Federal Cash Transactions –• used to report on cash advances to recipients and to obtain

disbursement information. Due within 15 calendar days following end of each quarter.

Financial Reports

• Who receives the reports– OSR submits the reports to the

sponsor– OSR sends the department each

report– OSR prepares between

800–1000/month

PartnershipOSR and the departments

depend on each other to make the most of the award $$

DEPARATMENT•Follow terms of agreement•Spend the $$•Track the money

OSR•Follow terms of agreement•Submit reports•Keep department informed

Financial Reports

• OSR depends on the department to closely follow the terms of the research agreement when spending and recording expenditures– Provisions that disallow certain costs– Requirements for certain expenses to

be itemized

Financial Reports• Spend the $$

– Once awarded and account has been assigned to a contract or grant, department should immediately begin to incur expenses

• personnel (PD forms) and cost sharing items

• Track financial data – maintain current and accurate– FRS– System for items that don’t appear in FRS– Categories of supplies– Hours worked– Job titles

Financial Reports• Reporting Considerations

– Carry over (NIH & HRSA)• 25% of year’s budget excluding prior year• If claim >25% agency may take back funding difference

– F&A Rate (Facilities & Administrative) • Split rates occur in July - if $$ not spent proportionally

throughout the year then higher F&A will be applied • If reallocate $$ without a budget revision an F&A rate

may be applied (ie. reallocate equipment to supplies) • Rate calculated when items post to FRS, therefore may

be different than budgeted

– Payroll fringe benefits based on current rates• May increase over what was budgeted

Date Final Technical Report due

Date OSR completed the Final Report of Expenditures

Date Final Financial Report due

Notice of Termination Reply (NOTR)

• Reports related to closing out the award– Performance (PI)– NOTR (PI & OSR)– Equipment (OSR)– Patent/Invention (OSR, PI & OTD)– Contract Release (OSR)– Contractors Assignment (OSR)

Notice of Termination Reply (NOTR)

• Importance of Report– University required to submit final

report of expenditures• Each budget year must report how funds

were spent• Establish any final financial obligations

– Delayed reports can result in • withholding of sponsor payments• Jeopardizing future awards from the

sponsor

Notice of Termination Reply (NOTR)

• OMB Circular A-110 Requirements– Recipients must submit all

performance, financial, and other reports within 90 calendar days after the completion date of the award.

– Extension may be approved when requested by recipient

Notice of Termination Reply (NOTR)• Specific OMB Requirements

– Liquidate all obligations incurred under award no later than 90 calendar days after funding period or completion date

– Refund any unobligated cash balances advanced by agency that are not authorized for use in other projects

– Account for real and personal property acquired with Federal funds

– Agency may make settlement adjustments after report received

– Agency retains right to recover disallowed costs resulting from final audit

Notice of Termination Reply (NOTR)

• OSR prepares and submits report on behalf of PI– Use FRS data– Use information provided by PI

regarding outstanding obligations• Accurate, timely and complete

input from PI and department is essential to assure funds are maximized to support the award

Notice of Termination Reply (NOTR)• NOTR Letter

– OSR sends letter to business office manager using PI’s address within one week of budget period ending

– Serves to notify department that budget has ended for the award account

– Requests PI to provide financial data• Outstanding obligations• Pending adjustments that don’t show on most recent

Budget & Expenditure report (FBM090 and FBM091)

– States deadline to return of financial data to OSR within 30 days

Notice of Termination Reply (NOTR)

• Award Extensions– OSR Contract Specialist can help

determine if the award extends over years or is on a year-by-year basis

– If award account has received extension beyond termination date• PI should return NOTR to OSR • Include copy of letter requesting extension • Include documentation from sponsor that

extension given

Notice of Termination Reply (NOTR)• Reporting Considerations (warnings)

– If NOTR is not returned to OSR by deadline • OSR will prepare the final report based on current

Budget & Expenditure Report less disallowed expenditures

• OSR will send PI copy of report listing allowable and disallowable charges

• Department will need to move disallowed charges to another account

– Payment of any outstanding charged not detailed in NOTR will be responsibility of the PI and department incurring the costs.

– Supplies received too late to be of use during the award period must be paid from another source

Notice of Termination Report (NOTR)

• How to complete the NOTR form– Record the date of the Budget & Expenditure Report

(FBM090 and FBM091) used in preparing the information

– Review encumbrances that have not been paid out– Record Imprest cash– Record prior year corrections not moved to new account– Record outstanding invoices – Record outstanding orders that post automatically– Record salary and fringe benefits that need to be moved– Allow for differences with FRS report i.e. NC Sales & Use

Tax

Notice of Termination Report (NOTR)

Let’s look at the form in more detail