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Reporting

About this Policy

Reporting

Policy Number: 27022


Effective Date:
Dec 12, 2017

Last Updated:
Jan 01, 1970

Responsible Office:
UM System Controller’s Office

Responsible Administrator:
UM System Controller

Policy Contact:

Campus Sponsored Program Office

Categories:

  • Finance

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Scope

This policy outlines the reporting responsibilities of Sponsored Programs Offices and principal investigators for sponsored awards.

Reason for Policy

To ensure reporting requirements are met for sponsored awards.

Policy Statement

The campus Sponsored Programs Offices (SPOs) are responsible for ensuring sponsored programs financial reports are prepared and submitted to sponsors within the time frame stipulated in the award or in the agency policies. The principal investigator (PI) is responsible for complying with the technical reporting requirements as specified by sponsor regulations or terms and conditions of the award.

The SPO and the PI shall ensure that all financial and Technical Reports are prepared and submitted on a timely basis in accordance with the terms and conditions of the award. The SPO will record the financial and technical reporting requirements using Milestone functionality within PeopleSoft.

All financial reports are reviewed by SPO Management, by someone other than the individual who prepared the report, for accuracy and completeness before submission to the sponsor. The review must be documented by signature and date the review was completed. A copy of the financial report is retained in the award file and sent to the PI and the department.

The PI is responsible for the timely submission of accurate technical and award progress reports. The SPO will update the Milestones for completion of Technical Reports. The SPO will monitor timely completion of reporting requirements monthly and follow-up as necessary to facilitate reporting compliance.

The PI must notify the SPO of any disagreements with the sponsor related to the acceptability, or delay in submission of Technical Reports. If the sponsor refuses payment due to non-compliance with the reporting requirements by the PI, the home department of the PI will cover the unreimbursed costs.

Definitions

Financial Reports – the accounting of expenditures and obligations incurred during the period of performance and/or at the conclusion of the sponsored project. Frequent forms of Financial Reports include Federal Financial Report (FFR) and Financial Status Report (FSR).

Technical Reports - reports required by the sponsor related to completion of the program purpose that includes, but is not limited to, the submission of program results, data, statistics, benchmarks, milestones, and projections.

Accountabilities

Campus Sponsored Programs Office (SPO):

  • Enter all PeopleSoft Milestones for all report due dates during award setup
  • Monitor PeopleSoft Milestones monthly for compliance with reporting requirements
  • Perform reviews of financial reports for accuracy and completeness
  • Escalate past due reports to management
  • Provide assistance to PI in resolving issues and disagreements with sponsor

Principal Investigator (PI):

  • Prepare and retain Technical Reports in accordance with the conditions of the award
  • Provide SPO with assurance of preparation of the technical report, when requested
  • Notify SPO of disagreements or issues with sponsors

Additional Details

Forms

 

Related Information

 

History

Formerly Accounting Policy Manual 60.67 – Reporting (revised 9/17/2009)

Procedure

Reviewed 2017-12-06