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IPSR Responsibilities

  • Review grant terms and conditions
  • Assist PI in grant-management setup
  • Approve budget revisions
  • Collect time and effort reports
  • Collect matching funds documentation
  • Troubleshoot problems that arise in grant management
  • Submit no-cost extensions
  • Review, negotiate, approve contracts
  • Issue subcontracts
  • Close out of grants
  • Assist FAS with audits
  • Monitor University portfolio of grants and contracts
  • Maintain auditable records
  • Enforce University policies
  • Enforce funder policies
  • Initiate periodic audits
  • Present educational workshops

Principal Investigator Responsibilities

  • Inform IPSR of the award
  • Obtain fund number from Financial Accounting Services
  • Create a Grants Management System (GMS) – an organized file or binder containing grant materials for easy reference, including:
    • Rosters and time sheets
    • Invoices, expense vouchers, P-Card receipts, IDTs
    • Budget changes
    • Cost share and match contributions
    • Subcontracts
    • Reports to funders
  • Respond to funder requests
  • Monitor project expenses
  • Monitor subcontractor expenses
  • Monitor and submit reports (Progress and Non-financial)
  • Document time and effort
  • Document matching funds
  • Submit budget revisions (needs PI and IPSR approval)
  • Assist IPSR with grant close-out

Financial Accounting Services Responsibilities

  • Receive award information from IPSR
  • Review documentation to confirm the award period, awarded amount, reporting requirements, and budget restrictions
  • Assign a fund number and create the award budget in Banner
  • Assist the PI with post-award management
  • Monitor expenses to each award to ensure charges are in compliance with funders guidelines
  • Enforce University policies
  • Request all draw downs from federal agencies, prepare all invoicing necessary to be reimbursed by a funder
  • Prepare all financial reports that are required by funding agencies
  • Work closely with IPSR to ensure the University is meeting all compliance requirements of a funder
  • Work closely with the University’s external auditors to prepare the Federal A-133 and Conn. State Single Audit