Financial Reporting for Sponsored Programs

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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. Good financial reporting rests on complying with all sponsor requirements associated with the financial management of sponsor resources.

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 tools available for monitoring financial activity.  Current systems include the Brio Standard Financial Reports Library and the University Data Warehouse Plus OBIEE reporting tool.

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 Personnel Action Submission System (PASS / XPASS) and/or the Journal Entry Management System (JEMS) in a timely manner.

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

Non-financial Reports

At the time of final reporting, the SPA Analyst will email the cost analysis to the Department and request the Department provide the mail date for the final technical (or program) report to the sponsor.

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Frequently Asked Questions