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Financial Reporting for Sponsored Programs

Background

Federal sponsor agencies, as well as other public and private sponsors, have established clear financial reporting requirements for sponsor awards. Reimbursements, as well as future funding, may be contingent upon compliance with these requirements. It is the goal of NYU to provide timely, accurate and consistent compliance with all such requirements.

NYU Approach

At New York University (NYU), the responsibility for administering sponsored projects is shared among Principal Investigators (PI's), Departmental Administrators (DA's), the Office of Sponsored Programs (OSP), and Sponsored Project Administration (SPA). To aid PIs and DA's in this process, NYU has made the University Data Warehouse Plus available for monitoring financial activity.

Roles and Responsibilities

The PI is ultimately responsible for monitoring all financial aspects of the sponsored project and ensuring the accuracy of the financial information reported to the sponsor.  This includes reviewing project costs and verifying that any adjustments have been processed in the PeopleSync and/or JEMS in a timely manner.

SPA works closely with PI's and DA's to complete financial reports and ensure timely submission.

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Non-financial Reports

At the time of final financial reporting, the SPA Analyst will request that the department provide the submission dates for the final progress or project report as required by the sponsor. SPA does not require copies of these reports.

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Frequently Asked Questions

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