Post on 25-Dec-2015
transcript
Contracts and Grants TrackNERAOC 2011
MAY 22-25, 2011Anchorage, Alaska
Session #4: Creative Grants Engagement:
F & A CostsContracts and Grants
Dilemmas
Presenters Mary Ann Downs
Contracts and Grants Specialist
mdowns@mafes.msstate.edu
Tina Hood, CRAAdministrator, Sponsored Programs
Administrationthood@spa.msstate.edu
Anne Cook, Fiscal Officeranne@mafes.msstate.edu
Problem
Constant changes in financial processing
Financial staff without background in Contracts and Grants
Classroom style training methods
Growing number of contracts and grants
General Information:Signatures:
Know who can sign contracts at your institutions.
For MSU, Only Director of Sponsored Programs Administration and Director of Procurement & Contracts can sign contracts - - even copier leases, etc. Previously our Vice President for Agriculture could sign Sponsored Agreement Contracts.
[There will be a challenge question re: use of contracts and grants dollars
inserted here - - but we can’t give away our answers before the session!
You’ll have to come to the session to see the question/answer/discussion here re: PIs and their current and pending effort!
Hot Issues:
Internal Billings/Service Centers: Service Centers allow for a standard rate calculation to be made for services provided by departments. Charging a project for any cost other than a direct cost must be supported by a rate approved by the Controller and Treasurer’s Office.
Time and Effort Reporting
You guessed it - - you have to come to the session to get the speed bump info re: Time and
Effort reporting!
JLRF* Justification over 90 Days
•Justifications should explain the reason for the delay and the reason why the change is needed.
• It is never correct to process a JLRF to “use up the money”.
•These forms are for the auditors. Explanations should be concise, accurate, and well-worded.
*JLRF = MSU’s Job Labor Redistribution Form
F & A
Shedding a little light* on a dull (but important!) subject
*Utilities, for those of you who enjoy wordplay!
.
What is F & A? F & A stands for Facilities and Administrative rate, commonly referred to as the overhead rate or the indirect costs.
Why does it matter? If an expense is included in calculation of the F & A rate, it cannot be charged directly to a contract or grant. EVEN if the C or G doesn’t allow indirect, you still cannot charge these expenses to the Contract or Grant.
What’s commonly in an F & A rate…?