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The purpose of this section is to outline the methods by which funds awarded
arrive at Dartmouth College, how those funds are controlled within the
institution, and finally how payment for sponsored research activities is
made.
- Billing
- Letter of Credit (Drawdown)
- Gifts
- Allocation of funds on a predetermined schedule
NOTE: The manner in which funds arrive from a sponsor to Dartmouth College
should not impact on a Principal Investigator's ability to pay for project
expenditures that meet the allowability, allocability, and reasonableness
guidelines. The primary role of the Principal Investigator in relationship to
these activities is in documenting the project's progress and conveying
technical reports to the sponsor in a timely manner.
Billing
Some Federal and Private Agencies require billing as a method of payment. It
is the responsibility of the Sponsored Research Accounting Assistant in OSP to
produce both monthly and quarterly bills for these PTAEO accounts. Billing is
normally done on a reimbursement basis for expenses charged during a particular
month or quarter. Check deposits and "aging" are also tracked.
Please note that billing of expenses on a PTAEO account should only
be done by OSP.
Letter of Credit
The Office of Sponsored Projects is responsible for the draw down of funds
for the awards from: Health and Human Services (HHS), Department of Education
(OED), National Science Foundation (NSF) and National Endowment for the
Humanities (NEH). The Manager of Cash Management/Reporting manages the cash
flow through FAS to determine the dollar amount to draw down from the
appropriate agency on a weekly basis. The Manager of Cash Management/Reporting
is required to reconcile the draws in a quarterly report to the agency.
Gifts to Support Sponsored Research (Gift Recording)
Some sponsored research awards from private agencies such as foundations
require that their awards be gift recorded. When a check from one of these
agencies is received at Sponsored Projects, it is deposited into a Clearing
Account. Gift recording notifications are then produced in the Sponsored
Projects Office and sent to Gift Recording where they are processed. The money
is then put into the appropriate general ledger account. This is done primarily
for the agency's tax purposes and also to recognize the efforts of the
Development Office.
Perhaps the most common method of transferring funds from a sponsor to
Dartmouth College is by means of a predetermined schedule of payment. On a
scheduled date a check will arrive from, or be issued by, the sponsor to be
deposited in the College's general ledger account. Checks are made payable to
the Trustees of Dartmouth College. Expenditures are then charged against the
PTAEO account and paid for out of a general ledger account.
Final Financial Closeout
Recent A-133 audits have strongly recommended reminding departments of
closeout procedures which are outlined in A-110 on sponsored research
awards.
The Office of Sponsored Projects has developed a Closeout Grid that lists
department and Office of Sponsored Projects responsibilities in closing out
sponsored research awards. The Closeout Grid can be viewed on our webpage by
clicking onto the following link:
Also see: Final
Financial Closeout Grid
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