There’s a myriad of requirements and components associated with sponsored programs administration from sponsor guidelines, federal regulations, financial compliance concerns, to institutional policies and processes. Without the proper guidance, the department administrator and Principal Investigator who manage sponsored agreements can easily become overwhelmed, confused, and for lack of a better word “discouraged”.
ICL Department Business Officer, Ora Taylor-Strowder has taken the lead to provide a grants financial management initiative to assist PI’s and their department administrators through this sometimes convoluted adventure. The Program developed by Taylor-Strowder includes a Survival Tool Kit for Post Award Financial Management, also a Grants Budget Monitoring Checklist with accompanying Guidance. For those new to sponsored programs, particularly post award management, as well as the more seasoned investigator and department administrator, knowing how things are accomplished (financial activities as well as Personnel actions and processes) is paramount. Knowledge of what to do and how, what forms are necessary, as well as when activities are to be conducted are important facets to effective management. In addition, what federal guidance is appropriate, and where this information is located, is essential.
The Survival Toolkit embodies a cradle to grave approach which provides practical, useful information. The kit includes tabs/sections beginning with project inception to closeout, with reference cards/guides to make the processes easier to understand. Miscellaneous information to include training documents and subject matter presentations, U of M policies and frequently used forms related to Sponsored Agreements, as well as information from the new federal Uniform Guidance is available.
The basic foundation and one of the most important components of any sponsored project is the budget. It is essentially the financial expression of the project scope of work. Managing and monitoring the budget during the life cycle of the award is a “best practice” in sponsored program administration. It is critical to the success of any project, and helps to ensure sound financial compliance. The Grants Budget Monitoring Checklist with accompanying Guidance directs the PI through the financial and HR actions/activities that must be performed on a monthly basis.
The Survival Toolkit can be provided by contacting Ora Taylor-Strowder directly at otaylor@memphis.edu, or via phone at 901.678.4391
The Checklist will also be available soon on the new CEHHS Instruction & Curriculum Leadership website.
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