'Successfully Managing a Research Award' Managing Budgets and Reporting 27 th October 2011
FINANCE RESEARCH TEAM l Team of 5 looking after approximately 400 live projects. James Allman – Manager l Ian Bailey – (ISTM Hartshill) l Anne Budgen – (EPSAM & ISTM Huxley) l Carla Vardy - (PCHSc, Humanities) l Tracy Armstrong - (Soc Sci) l
ADMINISTRATION OF RESEARCH GRANTS l Pre award stages Discuss proposed application with RI manager l FEC costings prepared on PFACT system l Salary costings to Finance for approval l Enter costings onto application form l Submit application to RI Director l University submits application to funding body l
ADMINISTRATION OF RESEARCH GRANTS l Post award stages Offer letter/notification received by Research Services l Research Services generates ERF form l ERF form received by Finance l Code notification form sent to PI and RI Manager l Project is confirmed for operation l
DISCUSS PROPOSED APPLICATION WITH RI MANAGER l Directly Incurred costs l l l l l Staff costs – Research Assistant, Technician, Fellow, visiting researcher Travel & subsistence Equipment (less than £ 50 k) Consumables Books Survey Fees Publication costs Licences Recruitment & Advertising
DICSUSS PROPOSED APPLICATION WITH RI MANAGER l Directly Allocated Costs Principle investigators time l Co-investigators time l Estates costs l
DISCUSS PROPOSED APPLICATION WITH RI MANAGER l Indirect Costs (Overheads) General office and laboratory consumables l Secretarial l Central and distributed services l Cost of capital employed l Note any unfunded balance covered from Indirect Costs l Financial benefit to the University l
DISCUSS PROPOSED APPLICATION WITH RI MANAGER l Exceptional costs Project studentships l Large equipment (more than £ 50 k) l
FINANCE INVOLVEMENT Pre-Award l Check with Finance for VAT implications l For all applications submitted via p. Fact, Finance will check the salary costings where salary costs >£ 50 k Inflation rates l Increment dates l Grades and points l Finance request a 2 DAY notice period for checking of a final p. Fact file
FINANCE INVOLVEMENT Post Award l Act upon receipt of an ERF (External Funding Agreement Form) l Allocate an “R” code & enter basic grant details into our database l Set up the ledger codes – i. e. to allow you to spend from your grant l Issue a “Code Notification Form” to PI & RI Manager
FINANCE INVOLVEMENT Post Award l Load the budget into system l Use an Automated Diary system to monitor the grant & to flag up important deadlines: Start certificate l Claims due to be completed l Raise invoices to the sponsor l Financial statement deadlines - & for Research Council grants, PI Final Report deadlines to avoid any sanctions l
FINANCE INVOLVEMENT Post Award Confirm to HR that funding for staff is available for new appointments or extensions l Provide reports / guidance to PI’s / RI Managers upon request. Level of support depends on type of grant. l Close grants down shortly after end dates l l Important note, for Research Council grants it is not permissible to incur expenditure on a grant after the end date (Keele may be required to return unspent funds to the sponsor)
FINANCE INVOLVEMENT Post Award l Prepare any financial reports required l Raise any claims / invoices required to the sponsor l Liaise with sponsor regarding financial issues l Provide support for project extension requests
DIFFERENT SPONSORS Variety of different sponsors, each have their own rules but key principals remain the same. l Important to read terms and conditions very carefully l EU grants – timesheets required, Keele has procedures in place to protect against £ $ fluctuations. l University has services of Martin Pickard, a consultant specialising in EU funding. l
AUDITS Individual grants can be subject to audits by the sponsor l Grant sponsors can send in auditors to review a number of grants provided by that sponsor l A selection of grants are reviewed each year by the University’s external auditors l
How you can help Finance Pre award, allow time for costings (including salaries) to be checked l Agree a profile of the budget of your grant once it has been awarded - & notify finance. l Keep finance informed of any problems/delays to start dates/extensions etc on your grant – preferably copy in your finance contact on important e-mails regarding the project administration. l Spend as planned! l
Any Questions? ? ? Contact Details: Email: j. r. allman@fin. keele. ac. uk Tel: (7)34389
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