Invoicing, Financial Reports and Cost Sharing

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What is the difference between cost-reimbursement and fixed-price (milestone) sponsored projects?

  • A cost-reimbursement sponsored project provides for payment of allowable incurred costs, to the extent prescribed in the agreement.
  • A fixed-price sponsored project operates under an established price that is not subject to any adjustment on the basis of the contractor's cost incurred while performing the agreement.
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Who is responsible for invoicing a cost-reimbursement sponsored project vs. a fixed-price clinical trial project?

  • For cost reimbursable sponsored projects, SRFA will prepare and submit all invoices to the sponsors.
  • For non-cost-reimbursable projects:
    • Milestone/per patient projects, the department (DRA/research coordinator) will submit all invoices to the sponsors and provide a copy of the invoice to SRFA, with the exception of the startup invoice. The assigned SRFA RFA will prepare and send the startup invoice to the sponsor.
  • For a fixed-price, nonclinical trial, the DRA will inform the SRFA RFA of the milestone completion and SRFA will prepare and submit all invoices to the sponsor.
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Who is responsible for reviewing the final invoice before it is submitted to the sponsor?

The assigned RFA will forward a copy of the final invoice to the PI and DRA for review and approval before it is routed in SRFA for signatures. Once all approvals are obtained, the final invoice will be submitted to the sponsor.

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Who is responsible for filing the final financial reports to the sponsor?

The assigned RFA in SRFA will work with the DRA to prepare and review all financial reports for the PI's approval. However, SRFA is responsible for the submission of financial reports to the sponsor.

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What is the definition of cost sharing?

Cost sharing is the financial support that a research institute will commit to in an effort to continue research. Cost share can either be a mandatory or voluntary commitment that is required to follow the sponsor's regulations under the same policies that govern allowability. For SRFA's cost-share policy, please refer to the PPM: Cost Sharing On Sponsored Activities Policy: Sponsored Research and Funds Administration.

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What form do I need to use to initiate a cost-share request?

A cost-share form is part of the budget-building tool at the time of proposal. However, if cost-sharing activities have changed after the award, then an updated, approved cost-share form or an email from the DRA with a copy to the PI must be submitted to SRFA. The cost share form can be found in the PPM under Commitment and Cost Sharing Confirmation/Modification Form: Sponsored Research and Funds Administration.

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How often are cost- sharing activities funded?

If there is an approved cost-share form on file, the RFA will fund cost-sharing activities on a quarterly basis or as required. At the end of the project period the RFA will true up the funding for all cost-sharing activities.

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What should I do if cost-sharing activities are intended but I didn't submit a cost-share form?

If an RFA discovers that cost-sharing activities hit the project, he/she must confirm with the GCO and PI/DRA that activities are accurate and relevant. If so, then the PI/DRA must submit an approved cost-share form to SRFA within 30 days from date of discovery. Any cost-sharing activities that post to the project will be considered a deficit until a cost-share form has been received.

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What are the fringe and indirect cost rates applied on the cost-sharing activity ("9" activity)?