3.10.5 Control of sponsored research/external funds
The institution maintains financial control over externally funded or sponsored research and programs.
Judgement of Compliance:
The Provost of the University of Tennessee at Chattanooga (UTC) directs the Office of Grants and Research which has primary responsibility for identifying external funding opportunities and for assisting University faculty and staff in preparing grant and contract proposals.
Before any grant proposal is submitted, it must be reviewed and approved by the Department Head, the Dean, the Office of Grants and Program Review, the Provost, and the Chancellor. In such a case where the proposal includes cash or in-kind matching, the proposal is also approved by the Vice Chancellor of Finance, Operations and IT. The University receives a notification of award from the various agencies which shows the amount of the award along with other information about the grant.
The University of Tennessee Fiscal Policy FI0205 provides policies and procedures for administering grants and contracts, including budgets, proposals and applications, cost sharing, subcontracts, and salary allocation.
The Office of Business and Financial Affairs monitors the distribution of funds after a contract or grant has been awarded and works with the grantee to ensure fiscal compliance with the terms of the contract. The Grants and Contract accountant follows the guidelines set forth in the Fiscal Policy FI0205 by performing the following activities:
- Approval and setup of Restricted Account and budget in the University Accounting System.
- Monthly monitoring of time & effort certification
- Monthly sampling of Sponsored project expenditures to ensure compliance with Federal Guidelines and University Fiscal Policy.
- Timely invoicing coinciding with contract billing and reporting instruction with reconciliation to the University Accounting System and contract budgets.
- Quarterly review of expenditures and funds receipt for accounts drawn down by Knoxville Campus.
- Monitoring expenditures of funds received in advance. Final reconciliation and close out reporting sent to funder.
- Signing off on all cost transfers for allowability.
- Review of Research Award regulations through COGR newsletters and updates, OMB Circular and specific Agency guidelines.
- Approval of employees to be hired or paid on Grant Funds.
- Monthly accounts receivable reconciliation by item to the University Accounting System.
- Departmental audits to enforce compliance with OMB Circular regulations on record keeping, allowable costs, and allocations