GRANTS

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GRANTS CONTRACTSWORKSHOP

• Sam Killings
• Assistant Controller
• University of Massachusetts
• Amherst Campus

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Agenda

• Audits
• Account Creation
• Budgets OPAS
• Costs
• Grant Management
• State Accounts Indirect Costs
• Grants Contracts Accountants

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Audits

• Compliance Audits
• Financial Audits

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Compliance Audits

• A-133 Compliance Audits
• Assures Compliance with Federal Agency
• regulations
• terms conditions
• NOT a financial audit

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Compliance Audit Findings

• Late billings
• Late financial reports
• Under financing of cost sharing
• Improper costs
• Publications
• Deliverables by PIs
• Bad Debts

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Financial Audits

• Annual Audit
• Revenues Expenses
• All Research Accounts
• Looks for
• timely collections
• late billings
• bad debt write offs

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Account Creation

• OGCA processes completed award
• Sherry sets up account
• Accountant reviews/processes
• Budget
• A/R
• Overhead
• Billing
• Attributes
• Email notification to P/I Business Manager

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Budgets OPAS

• Budget Inputs
• Organizational Prior Approval System
• Proper Justification
• Email Process
• Timely Approval

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Costs

• Cost Sharing
• Recharges
• Allowable Costs
• Cost Accounting Standards (CAS)
• Why we need justification

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Grant Management

• Billing
• Financial Reporting
• Deliverables
• Equipment
• Fabricated Equipment

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State Accounts Indirect Costs

• Managing State research accounts
• Indirect Cost Charges

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Grants Contracts Accountants

• Lloyd Thomas lthomas_at_admin.umass.edu
• Maxine Greenblatt mgreenblatt_at_admin.umass.edu
• Ken Rewa krewa_at_admin.umass.edu
• Robert Kazalski kazalski_at_admin.umass.edu
• Elizabeth Chapin chapin_at_ent.umass.edu

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QUESTIONS and SOLUTIONS