Research administrators and principal investigators are responsible for reviewing report activity on a monthly basis to:
Ensure budget is allocated correctly
Confirm Revenue is being accrued as expected
Validate expenses are allocated and charged appropriately
Review official project balances for each budget category and determine if action needs to be taken
Review subcontracts and determine if action needs to be taken
Investigate outstanding invoices past 120 days by working with Accounts Receivable
Review Payroll/Fin Aid Commitments for personnel effort
Plan for staffing and other project updates
Verify outstanding UDC’s and update information as needed. The UDC page can be accessed directly from M-Reports by clicking on the Other Unit Commitments column name (see UDC instructions)
Monitor the budget period and determine if action needs to be taken
Prepare for closeout If project period is ending
Investigators are also responsible for submitting sponsor reports to meet award terms and conditions. Depending upon the type of award (grant, cooperative agreement, contract, or other transactions), reports are due on a recurring basis during the life of the award (normally within 90 days of the final expiration date for all final documents).
For federal projects there are generally four types of reports:
Technical (Progress) Reports
Fiscal (Financial) Reports
Property (Equipment) Reports
Intellectual Property (Invention) Reports
Actual reporting requirements vary by award, be sure you know, understand and follow all award reporting requirements.
M-Reports is a web-based report environment that provides faculty and research administrators with official and projected project/grant balances, as well as links to underlying transaction details.
Submission of any financial reports to a sponsor should be coordinated with your Sponsored Projects Customer Service representative to ensure financial activity reported aligns with university data.