Sponsored Project Fiscal Responsibility

The Office of Sponsored Programs (OSP)

OSP Grants Accounting team is responsible for maintaining the official accounting records pertaining to all externally funded sponsored projects, regardless of funding source. This is accomplished through the establishment of appropriate university

WBS elements in which all sponsored project expenditures and reimbursement transactions are recorded. The OSP Grants Accounting team is also responsible for invoicing, cash drawdowns, submission of applicable financial reports, and audits.

• To ensure all university and sponsor requirements and reporting are met, all externally funded sponsored projects received by UNO will be accounted for as Restricted Current Funds, which require that a separate WBS element be established for each sponsored project to document and account for the receipt and expenditure of such funds.

The Project Director (PD) or PI, Department, College, and/or Unit

The PD/PI (along with their chairperson, director, dean, campus chancellor, and other unit administrators) share fiscal responsibility for their individual sponsored project(s). These individuals help ensure that the terms of the award are observed, the expenditures incurred during a given period are not in excess of the funds awarded, and are reasonable, allowable, and allocable. These individuals are responsible for the following:

• Developing an overall plan for the commitment of sponsored project funds. The PD/PI works with the authorized person(s) in the department, college, or campus, and consults other university officers as appropriate to develop the plan.
• Read and understand the award document(s) and applicable policies and regulations.
• Approving all expenditure requests to be charged against the sponsored project account.
• Reviewing the expenditure of sponsored project funds to ensure that: Funds are used only for purposes directly related to the activity supported and that the expenditures follow federal rules (e.g. the Uniform Guidance), state of Nebraska and UNO policies, and/or any terms, conditions, or limitations applicable under the particular sponsored project.
  • Expenditures do not exceed the total funds authorized for a given period under the sponsored project. In many cases, the sponsored project may also specify expenditure limits by budget category or line item.
• On a regular basis, the PD/PI reviews the sponsored project account expenditures with appropriate departmental, college, or campus administrator(s).
• Certifying their effort and the effort of other employees working on the project
• Certifying that all cost-sharing obligations for the project have been met.
• Initiating requests for expenditure transfers and rebudgeting of costs on the project
• Initiating and approving subcontract agreements and payments.
• Notifying OSP grants accounting of any program income, i.e., revenue from sales and services of goods developed in conjunction with a sponsored project.
• Assuming fiscal responsibility for overdrafts, deficits, uncollectible, and/or disallowances that occur under a sponsored project account.
• Completing all of the following tasks in a timely manner so that an accountant in OSP may submit a final financial report and/or invoice:
  • Submitting all cost-sharing information to grants accounting
  • Posting all expenditures
  • Ensuring that all costs are allowable. Factors affecting the allowability of costs include:
    • Reasonableness, Allocability, Consistent treatment, Conformity of costs to any limitations or exclusions set forth in the sponsored agreement concerning types or amounts of cost items
  • Submitting a technical (progress) report to sponsor and OSP, when required