Research Affairs - Financial Management provides financial management of internally and externally sponsored research awards, research related grants, contracts, and government allocations. It is Financial Management's responsibility to comply with regulations, laws and policies imposed by the funding agencies and LLUAHSC research policies. Financial Managment manages post-award accounting for sponsored projects and is the central fiscal administrator for monitoring and managing projects from award to close out.
Departments on campus are assigned a Financial Analyst to help investigators with budget development, submit reports, relay sponsor and institution policies and procedures, prepare cost transfers, review and approve expenditures, manage effort reporting, facilitate award extensions, and assist with award close out.
Learn more about Financial Management's services:
- Assisting the PI to Set up an Award.
- Assisting the PI Start Work and Spend Funds. This includes maintaining the institution's official award database to enable appropriate financial recording, analysis and reporting related to the source and application of funds for individual awards received by the institution. Financial Management analyzes and monitors award expenditures for un-allowable costs, over-expenditures, etc. Financial Management approves sponsor agreement expenditures (i.e. payment vouchers, rate slips, journal vouchers, etc.) and, if necessary, routes them to other departments for processing.
- Assisting the PI to Manage the Finances. This includes preparing sponsor reports at various intervals through the life of an award such as progress reports that include any modifications to scope of work, personnel effort, and/or budget, and financial status reports.
- Assisting the PI to Close the Award.
Policies, Procedures, and Compliance
- Initiate and maintain LLUAHSC research policies and procedures.
- Ensure that funds to support research and other sponsored projects are administered in accordance with institutional policies as well as sponsor policies.
- Prepare information packages for auditors.
- Prepare Schedule of Expenditures for Federal Awards and Grants and Contracts year end Accounts Receivable, analyze and explain variances from prior year.