Post-Award Management

We provide the tools and guidance you need to effectively manage your award, from receipt through final closeout.

Forms

Receiving & accepting your award

Congratulations on securing an award!

If your proposal is successful, you’ll move on to the award negotiation phase. This involves finalizing terms with the sponsor, setting up accounts, and confirming all conditions of the funding agreement. ORED assists with negotiating terms to make sure the award process is smooth and compliant.

Receiving funding is an important milestone, but managing the award effectively is just as crucial. From meeting reporting deadlines to ensuring compliance, the post-award phase is where your project takes shape.

Understand your responsibilities as a PI

As a PI, taking an active role in overseeing every aspect of your award will help ensure its success and maintain accountability throughout the life of the project.

You’re responsible for:

You are responsible for managing the project budget to ensure all expenses align with the approved budget and sponsor guidelines. This includes monitoring expenditures, requesting budget modifications as needed, and avoiding unallowable costs.

Accurately track and report the effort of all personnel working on the project, ensuring it aligns with the budgeted effort and complies with sponsor requirements.

Make sure you are submitting effort reporting to the Accounting Office.

Submit progress, technical, and other reports by their respective deadlines, if applicable. Timely and accurate reporting is critical to maintaining compliance and securing future funding opportunities.

The Accounting Office typically prepares and submits financial reports to funding agencies, but some specific organizations may require PI submission of these reports. In such instances, please coordinate your financial reporting with the Accounting Office.

Ensure all aspects of the project adhere to university and sponsor regulations, including human and animal research protocols, data management, and conflict-of-interest disclosures.

If your project involves subawards, you are responsible for monitoring subrecipient performance, reviewing invoices, and ensuring the subrecipient meets compliance standards.

At the conclusion of your project, you must submit required final reports, reconcile all accounts, and confirm that all project deliverables have been met.

While you’re managing your award, here’s what we’re doing

Accounting Office

The Accounting Office handles all fiscal administration for grants and contracts. This includes setting up accounts, preparing fiscal reports, ensuring compliance with federal policies, and assisting PIs with post-award financial management. They also prepare indirect cost proposals and oversee account closeout.

Know your reporting requirements

Reporting responsibilities fall into several categories. The specific reports required for your project will depend on the terms outlined in your award agreement.

Progress reports are commonly required to update sponsors on the technical aspects of your project, including accomplishments, challenges, and any changes to the scope of work.
Financial reports, typically mandatory for most awards, track how funds are spent to ensure alignment with the approved budget and sponsor guidelines. The Accounting Office supports the preparation and submission of these reports.
Effort reporting, a federal requirement, is necessary when personnel are paid through federal or state funded sponsored projects or when cost-sharing is involved. Exempt employees submit Personnel Activity Reports, while non-exempt employees use departmental time sheets. Cost sharing must also be documented and certified from non-federal sources.
Final reports, often required at the end of a project, summarize outcomes, reconcile funds, and confirm deliverables. Maintaining thorough records throughout the project helps simplify this process and ensures compliance.

Not all reports may be required for your specific award, so it is important to review your award terms carefully. Failure to meet required reporting obligations can result in funding delays, locked accounts, or audit findings.

Stay on Track with Reporting

Familiarize yourself with the deadlines outlined in your award agreement and maintain detailed records of expenses, activities, and progress throughout the project lifecycle.
Address any corrections promptly to help you avoid compliance issues.
By meeting reporting obligations, you not only protect your current funding, but also build trust with sponsors and set the stage for future funding opportunities.

Effort Reporting Support

Effort reporting is completed through MyOleMiss. There is a help document available on that site. To access, click on the "Certify Effort" option under the Search feature. The document is located on the right side of the screen.

Visit MyOleMiss

Manage your project’s finances

As a Principal Investigator (PI), you are ultimately responsible for overseeing your project’s financial activities, supported by the collaborative efforts of ORED and the Accounting Office.

All costs charged to your award must meet three critical criteria:

Allowability: Costs must comply with sponsor guidelines, university policies, and applicable federal regulations, such as 2 CFR 200. Certain costs, like entertainment, lobbying, and alcohol, are typically unallowable.
Allocability: Costs must benefit the sponsored project directly and proportionally. Shared costs across multiple projects should be allocated using a reasonable method.
Reasonableness: Costs must reflect what a prudent person would consider fair and necessary under the circumstances.

Have a question on your project’s costs? Please reach out to the SPA team for assistance.

As a PI, you are responsible for:

Authorizing expenditures: Review and approve expenses to ensure they align with the project budget and sponsor guidelines.
Tracking costs: Regularly monitor expenses to confirm they are accurate and appropriate.
Effort certification: Ensure personnel effort is reported correctly, including cost-shared effort.
Budget modifications: Notify ORED of any necessary budget changes and seek prior approval when required.
Cost transfers: Minimize cost transfers, and when necessary, provide clear justifications and ensure compliance with university policies.

The Accounting Office and ORED work together to support financial management by:

Setting up award accounts in the university’s SAP system and notifying PIs of account numbers.
Ensuring compliance with federal, state, and university financial regulations.
Securing sponsor approval of budget revisions when necessary.
Preparing and submitting financial reports to sponsors.
Assisting with account reconciliations and closeouts at the end of the project.

Some areas of financial management require additional attention:

Cost sharing: Track and report all cost-shared expenses to ensure compliance.
Program income: Report any income generated from the project, such as fees or royalties, and ensure proper use per sponsor guidelines.
Subawards: Monitor subrecipient financial activities, approve invoices, and track subrecipient cost sharing.

Close-out process

The close-out phase is the final step in the lifecycle of an award, ensuring that all project obligations have been met and the award is concluded in compliance with university and sponsor requirements. A successful close-out not only protects the university’s reputation but also positions researchers for future funding opportunities.

As a PI, your primary responsibilities during the close-out process include submitting all final reports, reconciling accounts, and ensuring all deliverables are complete. This is also the time to confirm that all subawards have been finalized, including payment of invoices and resolution of any outstanding issues.

Steps for a Smooth Close-Out

Submit final reports: Ensure all technical, financial, and compliance reports are accurate and submitted by the deadlines outlined in your award agreement.
Reconcile accounts: Verify that all project expenses have been properly recorded and ensure any remaining funds are handled according to sponsor requirements.
Finalize subawards: Confirm that all subaward obligations have been met, including deliverables and payments, and coordinate with the subaward manager on equipment disposition.
Retain records: Maintain detailed records of the project for the duration required by the sponsor and university policies.