Section 1: Introduction
Section 2: Proposal and Budget Development
Section 3: Managing Awards
Section 4: Travel and Procurement
Section 5 Closing an Award
For Sponsored Programs funding, New York University (NYU) receives various forms of payments, including electronic payments (e.g., letter of credit draws) and payments received by “wire” or check. NYU must ensure that all payments received for sponsored awards are accounted for in a manner consistent with Sponsor requirements and Generally Accepted Accounting Principles.
Sponsored Programs Administration (SPA), Principle Investigators (PI's) and Departments share responsibility for payments made on Sponsor Awards.
At NYU, the responsibility for ensuring proper stewardship of sponsored programs funding is the following:
Departments/PI's: PI’s and their staff are required to assist SPA to ensure timely receipt of award funding. This includes making sure that all charges to sponsored projects are consistent with the Sponsor’s terms and conditions and NYU policies, the timely submission of progress or technical reports and providing support to central offices for the preparation, submission and payment collection of invoices.
SPA: SPA is responsible for performing letter of credit drawdowns, the submission and/or approval of invoices, following up on outstanding receivables and delinquent accounts, identifying issues causing delays in payment, recording payments to sponsored projects and for
preparing and submitting financial reports to sponsors which detail payments and expenses.
School Fiscal Officer: Responsible for non-payment when all project deliverables have been met.
Sponsored Programs Administration (SPA) is responsible for collection with assistance from the departments. E.g., a payment may be 90 days overdue because a Progress Report has not been submitted by the Department. However, the department is ultimately responsible for any receivables which cannot be collected from the sponsor.
All checks for federally funded projects must be hand-delivered for deposit to the Sponsored Programs Administration offices at 105 E. 17th Street, 4th Floor, to the attention of the Cash Management Analyst.
All Foundation and Private Sponsors checks must be hand delivered to the Office of Gifts Administration at 25 West 4th Street.