The Award Management Summary report is used to monitor awards approaching their end dates (next three months) and highlight Project and Activity balances and deficits.  We recommend monthly review of this report to prioritize action that may be required on awards approaching their end dates.

Displays information that will assist users in completing deliverables for Sponsored Research Awards per the terms of the agreements with the sponsor. Milestones track key completion phases for sponsored projects and are ultimately used in award closeout processing.

The Cost Share Report is used to monitor and reconcile cost share activity on an award. We recommend using this report to monitor if cost share revenue commitments have been fully funded and whether total expenditures will meet the University’s committed amount by the award end date.  

This report provides a consolidated view of all funds, programs, and sponsored activity for a given faculty member and displays the spendable balance for each. This report includes the awards and projects for a PI.

The Incremental Funding Report is used to monitor the amounts and arrival of funding increments anticipated throughout the life of an award. 

The NOA contains award specifications, project information (including obligated and anticipated funding amounts), and project dates. The NOA also lists key personnel, terms and conditions, milestones, and subawards by project.

The Sponsored Award Summary report is useful when managing awards with multiple projects.  The report is used to monitor the available balance, burn rate, variances between the budget v. actual expenditures, and cost share budgets and expenditures of all project detail summarized at the award level.  In addition, this report links to award attachments and allows you to drill on expenses and encumbrances.  We recommend use of this report for both internal and external financial reporting.

The Sponsored Project Summary report is used to monitor the available balance, burn rate, variances between the budget vs. actual expenditures, and cost share budgets and expenditures. We recommend using this report for both internal and external financial reporting.

The Sponsored Project Detail Report is used to review actual transactional detail, and therefore, it is a helpful tool for completing reconciliations and composing journal entries. This report is also used to identify chartstrings that have been flagged as potentially unallowable on a sponsored award and may require further action. We recommend using this report as necessary after a higher-level summary review has been completed. Generally, it should not be the first report run for sponsored research financial review as it provides a very granular view of the data. 

This report provides a list of all subawards by award, including subaward details, budget and expenditures, and drills to invoice detail for subawards associated with primary awards.

According to OMB UG 200.327, the federal awarding agency may solicit only the standard, OMB-approved government-wide data elements for collection of financial information. This information must be collected with the frequency required by the terms and conditions of the federal award, but no less frequently than annually nor more frequently than quarterly except in unusual circumstances.  

For quarterly, semi-annual, or annual financial reports, the federal reporting deadline is generally 30 days later. For example, if an award’s budget year ends on 3/31, then the annual financial report is due on 4/29. For final financial reports, the federal deadline is either 90 or 120 days after the award end date depending on the federal awarding agencies. 

Strict compliance must be given to meeting the federal reporting deadlines. Failure to comply could result in a reported finding on the University’s annual Single Audit conducted by PricewaterhouseCoopers (PwC).

The requirements for financial reporting from non-government sponsors such as foundations, corporations, or foreign entities vary widely in terms of frequency and formatting. The University must comply with any reporting requirements specified in the award agreement. However, in the absence of such language, a standard financial reporting template is generally used.