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THE OFFICE OF RESEARCH
RESEARCH INVESTIGATOR HANDBOOK
4. FINDING, OBTAINING, AND MANAGING MONEY
4.1 Fiscal Responsibility
• What financial principles do I need to know?
• Whom do I contact?
• What auditing or monitoring is required?
• Relevant policies and procedures
What financial principles
do I need to know?
As the Principal Investigator, you are responsible
for the scientific, financial, and compliance management of your sponsored projects.
Obtaining funding is a highly competitive endeavor that not only
includes review of your proposed scientific
programs but also requires your adherence to the cost accounting standards
for fiscal responsibility (Circular A-21). You are expected to
apply the following
principles
for
all types of funding that you may receive:
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Allowability: Only charges allowable
under University policies sponsor policies, and award teams should be included.
These can vary by funding agency but allowable expenses usually
include project scientific personnel, supplies, equipment, patient care costs, and other expenses. Expenses that
may not be allowed include administrative salaries, personal
phone charges, or entertainment costs. Your Department will
review these with you but it is ultimately your responsibility
to ensure that you comply with the terms of your award. |
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Allocability: Only expenses
that specifically benefit a project can be
charged to that award. It is not appropriate to use funds from
one
project
to pay for items used in a different project. As the Principal
Investigator with spending authority, it is your responsibility
to make
sure that funds are spent only on costs necessary to complete
the project, and that these expenses were appropriately charged
to their designated project. |
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Reasonableness: This principle
applies to what you pay for an item and is judged by what a
prudent person would pay for such an item. For example,
a prudent person might charge $3,000 for a laptop computer
loaded with standard software. However, charging $30,000 for
this $3,000 system would not be reasonable. |
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Consistency: Cost incurred for the same purposes in like circumstances should be consistently treated as direct or indirect (F&A) costs across the institution. |
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TIPS: Examples of unallowable costs under federal sponsorship include alcoholic beverages, entertainment costs, and memberships. Costs that do not meet all of the above criteria may NOT be charged to federal grants. Investigators should read the sponsor instructions carefully for all agency announcements to ensure that all regulations are well understood and followed. |
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Other financial policies that are critical in managing sponsored project awards are:
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Whom do I contact?
Your primary contact for financial information and guidance
is your home department. Depending upon the size of the department, there
are various levels of support ranging from one financial person to a larger
staff that includes individuals that specialize in specific areas, such
as pre-award or post-award only. However, there is usually a grants administrator
(Research Services Administrator), financial manager or Management Services
Officer (MSO) who can assist you with sponsored project proposal preparation and post award management issues.
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What auditing or monitoring is required?
The three main types of audits that occur are:
- Internal Audits: UCSF routinely audits departments and University programs to assure that sponsored project awards are being managed in compliance with all University, government, and awarding agency regulations.
- A-133 Audits: The University is audited annually as required under Office of Management and Budget (OMB) Circular A-133 regulations to assure that all federal projects are in compliance with federal policies.
- Sponsor Agency Audits: Any sponsoring agency can require an audit of the awards it has provided.
If you receive a notice from an outside agency that they will be performing an audit, contact the UCSF Internal Audit office at 415-476-3851. Internal Audit is the central point for coordination of all audits performed on campus, and will work with you and your department to oversee the audit process.
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Relevant Policies and Procedures:
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