As the designated Department Financial Manager for Sponsored Project, the employee is responsible for financial management of the sponsored project to ensure compliance with sponsor's requirements and University's policies and procedures. Within 30 days after the close of the month (generally the 8th business day after the end of the month), the duties to be performed by the employee include, but not limited to:
- Review and reconcile expenses on the Center Status Reports to ensure that the expenses are a) allowable by the sponsor for the project, b) allocable to the project, c) reasonable and necessary, d) supported by required documents, and e) within the budgeted amounts;
- Review salary distributions to ensure that they reasonably reflect employees' level of effort on project. Review associated fringe benefits for accuracy;
- Review the commitments of key personnel, to ensure the costs reasonably reflect the level of effort committed to the sponsors as part of proposal and notify OSP/OSR of significant variances;
- Review the calculation of indirect cost recovery to ensure accuracy;
- Process all corrections and adjustments within 90 days of when the charge initially posts to the financial system (posted date for non-payroll and pay period end date for payroll transactions) and ensure corrections and adjustments are reviewed and approved according to the signature authority policy and supported by appropriate documents;
- Complete the Financial Status Report (FSR) worksheets timely and accurately; and
- Ensure that payments to subrecipients are reviewed and processed in a timely manner.