1 2 These are our learning objectives for the session. - this is - PDF document

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These are our learning objectives for the session. - this is an Information Sharing session and not a HOW TO 3

To meet the learning objectives, here are the topics we will cover in the session today: Overview of Research Projects will include discussion of the pre- and post- award phases, the types of projects that can exist and how to interpret project identifiers. The Policies and Guidelines section will increase your familiarity with the “policy spectrum”, the research and finance policies that are applicable, and how the various stakeholders share the responsibility for managing the research funds. General Research Project information will touch on how a project is set up and funded, how to interpret the budget and project dates and years, and a brief discussion of renewals, extensions and sub-grants. We’ll really get into the meat of the session when we talk about financial transactions and how all the activity related to a research project is recorded in Western Financials (also known as our PeopleSoft application). The financial reporting and General Ledger (GL) inquiry section will show the tools available in Western Financials and will describe some of the external reporting requirements that you might not be aware of. Finally, we’ll highlight a few Tri -Agency topics for you. 4

We will NOT be discussing how to procure goods and or services, or how to complete/submit Travel and Expense Claims (while these are part of project management there are other sessions as well as training materials to help you with these. We will refer to them at the end.) 4

In this first section I’ll provide a very brief overview of the administrative phases of a research project. The pre-award phase is managed by Research Development & Services and the post-award phase is managed by Research Finance. These 2 offices work very closely with each other because our work is very integrated. Research projects can be differentiated by the nature of the work being performed. At Western we categorize the projects as either a grant, contract, technical service or donation. It’s important that we be able to isolate all project related expenses and revenues, and therefore each project has unique identifiers. This enables us to fulfill our reporting obligations to our funding agencies. 5

Principle Investigators (PI) search out and identify funding opportunities to apply to. Sometimes this is done independently and other times it is with the assistance of a Faculty research officer, a colleague/collaborator or Research Consultants in Research Development & Services (RD&S). PIs set up a project record in the ROLA system (Research On-Line Administration ) during the application phase. This captures department, Faculty and institutional approvals. Once the funds are awarded and conditions of funding are satisfied, RD&S notifies Research Finance through workflow in the ROLA system. 6

In the Post-Award phase Research Finance handles the financial management of the award. The research project and speedcode are activated in Western Financials. The PI and his/her department administrator receive a system generated email that provides them with the project information, including the speedcode. All stakeholders monitor expenditures to ensure that the spending aligns with the terms of the funding program and that the award complies with the respective policies and guidelines of the funding agency and the university. Research Finance monitors and reviews the revenues of all research projects to ensure the funding aligns with the project budget and the project progress, and we confirm the funds are received within in the prescribed timelines of the awards. Cash flow management includes invoicing, deposit of installments (cheques and Electronic Funds Transfers) and review to ensure funds are released following submission of financial and progress reports, or completion of milestones/deliverables. At times funding agencies require financial or variance analyses, comparing incurred expenses to an approved budget. Some financial reporting also 7

includes a forecast of expenditures for the coming year (or quarter) for which PI’s input is required. Financial reporting is completed by Research Finance based on the terms of an agreement/contract or based on the requirements of a funding agency. This can be monthly, quarterly or annually. Research Finance coordinates a variety of financial reviews including formal audits (both internal and external), monitoring visits and general sampling of account transactions. 7

It’s very important for us to differentiate the various project types because our government reporting (at the corporate level) requires aggregate data on each. That’s why we can not co-mingle funding from different sources. Grants – The majority of our research awards are grants. The distinguishing criteria for grants is the flow of funds which are usually in advance of spending and follow a prescribed schedule, publication rights and Intellectual Property. 8

Contract - Milestones/deliverables and related timelines are defined. Progress reports are completed by the PI and are usually required annually. Some funding agencies may only require this at the end of project. There is very specific language regarding Intellectual Property. Contact the Contract Research Team group, in Research Development and Services for more information. 9

Technical Services – Usually is specific to data generation with many provisions and minimal intellectual output. Final payment is not released until receipt and approval of the final report. Contact Contract Research Team, in Research Development and Services for more information. 10

Donation – Tied to a donor agreement and is usually directed to a specific area/discipline of research. External Development or your Faculty Development Officer can provide additional information if needed. 11

When a Project is set up it is given a Project Number, this is used to isolate financial transactions related to the project activity. Each Principal Investigator has a unique identifier in Western Financials that remains with him/her throughout their career here at Western. It consists of a 5 digit alpha- numeric combination, beginning with ‘R’. Department chairs and Faculty Deans can also hold projects tied to their administrative roles. These projects begin with an ‘X’. Project #s are generated as each project is awarded. A project # begins with the researcher’s profile number and ends with a 3 digit alpha -numeric combination which increases incrementally with each new project assigned to the PI (e.g R#### A01 , R#### A02 , …). 12

When you are charging expenses to a Project you use a Speedcode: It’s a 4 digit code (alpha-numeric) that condenses a 15 digit chartfield - made up of a Fund (research is always Fund 2), department (6 numbers) and Project number. Speedcodes allow for efficiency and accuracy with data entry and expense processing for payroll, Mustang Market, Travel/Expense claims and internal store operations. The 4 digit speedcode is much easier to remember then the 15 digit chartfield combination. 13

As we wrap up this first section here are the key items we’ve talked about. • Research Development and Services handles the pre-award functions • Research Finance is responsible for the post-award functions, i.e. the financial management of research funds • The 4 types of research projects are grants, contracts, technical services and donations. • Projects are identified by either their Western Financials project # or by their speedcode. 14

This section, Policies and Guidelines, touches on the “compliance zone” of how research projects must be managed. You can think of this as the umbrella under which the research project functions. We’re going to briefly discuss some applicable policies, the roles & responsibilities of the stakeholders, and then specifically address a couple of Principle Investigator obligations. You’ve heard that post-award administration begins the moment the award is received/accepted. The award documentation should be reviewed to determine the terms and conditions with respect to financial and non-financial requirements. The award documentation provided by the funding agency will include key information such as the amount and term of the award, spending restrictions and reporting requirements. Research Finance can provide assistance if you have questions. In order to manage post-award activities, Principal Investigators should be aware of institutional and funding agency policies and be able to access them when needed. 15

This diagram of “the policy spectrum” shows the five policy sources, all of which can impact the management of a research project. These policy sources do not exist in isolation – they all inter-play with one another. Most large granting agencies have extensive information on managing their research funds on their websites and Research Finance can provide assistance in locating this information if needed. Many agency links are available through our own Research Finance website. There are many rules and regulations that govern the use of research funding, and there’s no single rule to determine what “trumps” what. For example, Western’s policy may allow for something that is not permitted by the funding agency – in that case, the funding agency has the final say. 16