Final Reporting Process
Presenter:
Kris Cain
Manager, Reporting Division
kacain@iu.edu
812/856-3028
Highlights:
◦ Departmental Notifications
 Preparing for project closeout
 Timing of ORA notifications
 Recipients
 Information provided
 Actions required
◦ Account Close
Types of Notifications
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90-day Account Expiration Notice
Email Notification at Expiration
Final Report Preparation Notice
Final Report Notification
90-Day Account Expiration Notice (NEON)
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Delivered 60-90 days prior to account expiration
Provides guidelines for account review
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Delivered to:
Fiscal Officer / Account Delegate / Project Director – (future)
Info Provided:
Account #
Account Title
Project Director
Account Expiration Date
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1st alert to begin preparing account for final reporting
Is your house in order?
Review balances
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Large balances – Were charges applied elsewhere?
Overdrafts – If all costs applicable, notify ORA with a departmental account to cover OD
Cost share – Will the project meet the obligation?
Review effort
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Run labor reports and ensure personnel/effort is reflected correctly
Review & resolve expenses outside grant period
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Ensure that the agency allows for 90-day pre-award costs
Prepare to move salaries that post after expiration quickly
Review encumbrances
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Close old encumbrances
Contact vendors if payment not yet appearing
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Review Practice Plan payments
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Review subcontracts
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Proper allocation (object code review)
Check on late billings
Email Notification at Expiration
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For accounts with agency-required reporting
Email sent @ expiration date of account
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Delivered to:
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Fiscal Officer/Account Delegate / Project Director – (future)
Info Provided: (attached excel file)
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Account #
Expiration Date
Project Director
Agency Name
Grant #
Budget Balance (award budget – actual expense)
Report Due Date
Account Delegate
Financial Analyst & email
2nd alert! Account is expired, all corrections must be resolved soon.
Final Report Preparation Notice
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Sent by first 5 business days of the month the financial report is to be prepared
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Alerts department of date all transactions must be finalized
Including all expenses outside grant period that need to be moved off
Overdraft resolution
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Failure to respond does not delay report submission
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After preparation, report is submitted to agency, copy to FO and PI
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Report no longer sent to departments to pre-review
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Delivered to:
Fiscal Officer / Account Delegate / Project Director
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◦
Info Provided:
Account #
Date report due at agency
Date final KFS documents must be posted
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Anything posted after this date will not be included
Key points to remember on 3rd notice:
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Anything posted after this date will not be
included in the report to the agency
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This is the last opportunity to make corrections!
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Any unresolved issues will be addressed by ORA
via a TF to the departmental continuation acct.
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The account will be reviewed, report will be
prepared/submitted to the agency.
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Reports are no longer sent to departments for
review prior to submission.
Final Report Notification
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Email notification
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Accompanied by a copy of the final report that was
submitted to the agency
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Delivered to:
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Fiscal Officer / Account Delegate / Project Director
Info Provided:
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Account #
Final reported amount
Agency refund amount (if applicable)
Overdraft amount (if applicable)
NO CHANGES CAN BE MADE AT THIS TIME
Account Close
Following report submission:
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Budget will be aligned with final reported amount
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Encumbrances will be closed
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Remaining unallowable expenses will be resolved by
ORA via a TF utilizing the dept. continuation.
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Overdrafts
Effort
Unallowable expenses
Expense outside grant time period
Account is closed
Examples of notice sequences -
Agency report
deadlines may very with each agreement
(sample account with an expiration date of 12/31/14)
Sample
Agency
90 – Day Expiration
Neon
Email
Notice
Final
Report
Notice
Final KFS Final Report Report
Post Date Preparation
Due
Date
Riley
30 day grace
10/10/14
12/31/14
1/1/15/1/5/15
1/14/15
1/15/151/31/15
1/31/15
State – High
Education
60 day grace
10/10/14
12/31/14
2/1/15 –
2/5/15
2/14/15
2/15/15 –
2/28/15
2/28/15
NIH –
90 day grace
10/10/14
12/31/14
3/1/15/3/5/15
3/14/15
3/15/15 –
3/31/15
3/31/15
Recap
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90-day Account Expiration Notice
Review grant activity closely
Email Notification at Expiration
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Expenses outside grant period
Ineligible expense
Overdrafts
Confirm effort
Subcontract payments
Final Report Preparation Notice
Pay attention to the “final post date”
This is the last opportunity to make corrections
Final Report Notification
Remaining issues are resolved with a TF to departmental
continuation
Account Closed
How has process aided submissions?
How has process aided submissions?
Questions?
Questions & Additional Training
Kris Cain
Manager, Financial Division
Office of Research Administration
Indiana University
509 E. 3rd Street
Bloomington, IN 47401-3654
Telephone
Fax
E-mail
(812) 856-3028
(812) 855-9943
kacain@iu.edu