quality research administration meeting september 2012
TRANSCRIPT
Quality Research Administration Meeting
September 2012
Agenda
PHS COI Update
Departmental Administrator's Role in
Proposal Preparation
Federal Update
Export Controls
Kuali Coeus Update
Record Retention Policies for Contracts
and Grants
Accepting Foreign Currency Awards
Nadia Wong and Allison Ramos
Allison Ramos, Lauren Ryan and
Jonathan Lew
Jeff Warner
Marci Copeland
Barbara Inderwiesche
Tam Tran
Nancy Lewis
September 2012 QRAM
Sponsored Projects Administration Update Staff UpdateNancy LewisDirector, Sponsored Projects [email protected]
September 2012 QRAM
Sponsored Projects Administration Update Accepting Foreign
Currency AwardsNancy LewisDirector, Sponsored Projects [email protected]
September 2012 QRAM
Foreign Currency Awards
• Some awards from Foreign Sponsors require the acceptance of foreign currency• Ex: Research and fellowship awards funded by the
European Commission
• Fluctuations in currency exchange rates create uncertainty regarding the final award amount
• Departments must monitor the actual amount received to avoid potential financial liabilities that may result from unfavorable exchange rates.
September 2012 QRAM
Foreign Currency Awards
Sponsored Project’s Process
Sponsored Projects attempts to negotiate US dollars for all foreign sponsored awards.
If attempts are unsuccessful, Sponsored Project Officer will obtain consent from the PI and Department Chair to accept foreign currency.
Once accepted, the award synopsis is prepared using the exchange rate as of the date that the award is processed. Please note that the award synopsis will not be adjusted based upon the amount received.
Department must review the payment terms/schedule to determine when payments will be made in order to monitor the actual amount received from the sponsor.
Contract and Grant Accounting should be contacted to determine the actual amount received from the sponsor.
September 2012 QRAM
September 2012 QRAM
QUESTIONS ??