Virtual Financial Management Conference - Monday Sessions

This session will discuss budgets through the lens of the departmental administrator.  Guiding principles and best practices will be discussed for both generating budgets at the proposal stage, as well as budget monitoring and maintenance during the term of the award. 

Content level: Basic 

Learning objectives:

1. Better understand proposal budgeting processes.
2. Better understand the post-award budget processes.

Track: Departmental Administration Finance 

Speaker(s): Sean Scott, Contract Manager, UARC, University of Maryland, College Park

This goal of this session is to examine industry best practices on how institutions can manage reporting and closeouts ensuring their compliance with 2CFR200 guidelines for managing and accountability of federal and sponsor funds and reporting requirements. Participants will gain insight to a variety of tools that are available to help them manage this functionality using their ERP systems and accepted best practices. This presentation will also help participant that have significant backlogs gain an insight on how to tackle these operational risks to ensure their institutional funds are not at risk. 

Content level: Basic

Learning objectives:

1. Understand the importance of completing closeout and reporting in a timely manner to ensure compliance with guidelines. 
2. Develop skills and methodology on tackling operational backlogs.  

Track: Non-Financial Post-Award 

Speaker(s): Mustafa Khawaja, Higher Education Consulting Manager, Huron Consulting Group, Payton Don, Education & Research Consulting Analyst, Huron Consulting Group

It’s a new year. It’s a new me, but you’re stuck on where to begin or which direction to go. This session will help you navigate the plethora of options. We will start with introspection, talk about the necessity of infrastructure support, review the certification options, decision guidance, focus on the recovery and illuminate the call to action that is imperative. As a holder of 3 RACC certifications and an American College of Healthcare Executive Fellow as well as former board of directors of RACC, Sheleza is the ideal presenter to walk you through this pivot point as you make your decision. Let’s be bolder in 2025. Let’s rock that boat, we will get to the other side. Let’s design that key that will open new doors.

Content level: Basic

Learning objectives:

1. Understand the certification differences.
2. Identify resources to facilitate being exam ready.

Track: Financial Leadership

Speaker(s): Sheleza Mohamed, Director, Benaroya Research Institute

Accurate calculation of animal per diem rates is vital to the financial operations of an animal research facility. A per diem rate is the daily cost to care for an animal or cage of animals. The Cost Analysis and Rate Setting Manual for Animal Facilities (CARS) recommends that costs are analyzed annually and cost-based per diem rates are adjusted accordingly. This session will provide an overview of animal per diem rates, including calculations, regulatory and budgetary considerations. The session will also cover various tools and approaches to completing Time and Motion studies and what approaches have been successful at other universities.

Content level: Basic

Learning objectives:

1. Understand what components make up a per diem rate calculation.
2. Understand the different calculation methodologies and budgetary considerations.

Track: Advanced Finance Topics 

Speaker(s): Neel Velani, Manager, Huron Consulting Group, Kari Kelly, Director, Huron Consulting Group 

We will review best practices and available tools and reports to forecast budgets in order to proactively monitor active awards and accurately plan.

Content level: Intermediate

Learning objectives:

1. Fundamentals of Forecastine. 
2.  Tips and Best Practices.

Track: Grant Accounting

Speaker(s): Kimberly McKoy, Associate Director for Contracts and Grants, North Carolina Technical and Agriculture  State University, Amanda Varone, Manager, Huron Consulting Group 

In this session we will review guidance and resources to help an administrator determine if an expense is allowable on a grant. We will recommend ways to support your faculty and the research that they do, while also remaining compliant. We will review real-world examples of unusual or questionable expenses and walk through the determination of allowability. 

Content level: Basic

Learning objectives:

1. Become familiar with Cost Principles and Uniform Guidance sections related to allowability.
   
2. Learn about some tools and resources to help evaluate allowability of expenses on a grant.

Track: Departmental Administration Finance 

Speaker(s): Deborah Cundiff, Business Administrator, Northwestern University

Assets purchased with federal funding can sometimes be an overlooked area in research administration. However, mismanagement of government property can have negative consequences on the research portfolio of an institution. As the steward of equipment purchased with federal funding, it is imperative for the institution to have a compliant asset management system in place that will demonstrate adequate controls over safeguarding of equipment throughout their life cycle.

Content level: Basic

Learning objectives:

1. Assets purchased with federal funding can sometimes be an overlooked area in research administration. However, mismanagement of government property can have negative consequences on the research portfolio of an institution. 
2. Understand the procurement thresholds of government properties: government furnished property (GFP), contractor acquired property (CAP) and fabricated/constructed equipment.

Financial Management Certificate Required Session : Property/Equipment/Procurement (IV)

Track: Non-Financial Post Award 

Speaker(s): Sybile Bayiha, Sr. Manager Compliance & Data Analysis, University of Maryland

This session will help administrators build a research faculty recruitment package.  The financial investment into new faculty recruits is one of the biggest commitments a department and institution can make.  The presentation will focus on the financial, operational and strategic considerations when recruiting junior and senior faculty. The presentation will walk participants through all the components of a faculty recruitment package such extramural funding expectations, ramp up time, staff, supplies, facilities and equipment.  

Content level: Advanced

Learning objectives:

1. Build a business plan for a new faculty recruit.
2. Align their faculty recruits with departmental and institutional priorities and resources.

Track: Financial Leadership

Speaker(s): Marcos Garza, Assistant Vice President of Research Operations, University of Miami

Content level: Advanced

Learning objectives:

1. Calculate the estimated impact of changing the subaward exclusion in the MTDC definition.
2. Calculate the estimated impact of changing the equipment capitalization threshold in the MTDC definition.

Track: Advanced Finance Topics  

Speaker(s): Caroline Beeman, Director, Maximus

The financial management of an organization’s sponsored programs is governed by federal and state regulations and funder requirements. These requirements mean that most sponsored programs don’t fall neatly within an organization’s fiscal year structure, and organizational policies and procedures often need carve outs for sponsored programs. Research administrators need to understand appropriate financial management of sponsored programs and be able to do so in the larger context of the institution’s financial system.  

Join us for the sponsored programs perspective on financial management, from proper utilization of funds and financial reporting, through billing, cash flow, and award closeout as well as the role of compliance.  We’ll discuss how these research administration concepts fit within an organization’s standard financial practices and administration so that attendees can serve as a bridge between sponsored programs and the rest of their organization’s administrators. 

Content level: Basic

Learning objectives:

1. Explain how sponsored programs financial operations are similar and different from standard organizational operations.
2. Understand financial and reporting obligations in light of regulations and the implications of non-compliance.

Track: Grant Accounting 

Financial Management Certificate Required Session : Post-Award Financial Management (III)

Speaker(s): Karla Gengler-Nowak, Grants and Contracts Administrator, The Ohio State University, Aimee Nielsen-Link, Director, Health Sciences Office, The Ohio State University

In this session we will introduce some typical audits, understand the trends, and discuss audits of a university department’s sponsored funding. We will review the audit life cycle, the role of the department administrator, and common audit findings. We will focus on ways to prepare long before the audit happens so that your department will be set up for a successful audit.

Content level: Intermediate

Learning objectives:

1. Gain a better understanding of audit types and their impact on the University and department.
2. Have a better grasp of common risk items and what you can do to prepare for an audit.

Track: Department Administration Finance

Speaker(s): Deborah Cundiff, Business Administrator, Northwestern University, Kendall Minta, Business Administrator, Northwestern University 

As the usage of OTAs has expanded, this roundtable discussion is designed to empower research administrators with a thorough understanding of Other Transaction (OT) agreements, a flexible funding instrument used by federal agencies. Unlike traditional mechanisms such as grants and contracts, OT agreements allow for more adaptability in negotiations and collaborations, making them vital tools for advancing innovative research projects. During this roundtable discussion, participants will gain insights into the unique features of OT agreements, including their legal framework, historical context, and strategic advantages. The session will cover the different types of OT agreements—such as prototyping, research, and production—and explore their benefits for organizations involved in federal projects. An emphasis will be placed on the practical aspects of managing OT agreements. Participants will learn about the entire OT lifecycle from solicitation to execution, including best practices for proposal development and risk mitigation strategies. By analyzing real-world case studies, attendees will uncover key lessons and best practices that can be applied in their institutions. The discussion will incorporate interactive activities, allowing attendees to work through hypothetical OT agreement scenarios and engage in role-playing to understand various stakeholders' perspectives. This hands-on approach ensures that participants not only absorb theoretical knowledge but also develop practical skills they can utilize in their day-to-day roles. The discussion will conclude with an open Q&A, fostering a collaborative environment where participants can share insights and clarify any uncertainties. To support further learning, attendees will receive additional resources and reading materials post-training. This dynamic roundtable discussion is facilitated by a fellow research administrator with specialized expertise in OT agreements, providing a rich learning experience tailored to the needs of today’s research administration professionals. 

Content level: Intermediate 

Learning objectives:

1. Equip research administrators with a comprehensive understanding of Other Transaction (OT) agreements.
2. Practical skills for managing these agreements effectively.

Track: Non-Financial Post-Award 

Speaker(s): Ashmee Ellis, Research Portfolio Manager, Harvard University

Content level: Intermediate 

Learning objectives:

1. Expand knowledge of Fringe Benefit rates and trends per discussion and sharing of knowledge.
2. Understand how recent changes and trends would affect their Fringe Benefits and related recoveries at their respective institutions. 

Financial Management Certificate Elective: FM(E)

Track: Financial Leadership 

Speaker(s):Mira Levine, Senior Manager, NACCA- Maximus Higher Education Practice, Michael Meunier, Senior Consultant, Maximus Higher Education Consulting 

One of the most common issues shared by almost all research institutions is the tracking and management of third-party cost share. Given the lack of a universal standard, institutions have been forced to develop creative solutions to ensure that monetary and other in-kind contributions are accurately accounted for within a grant’s financial records. Join Huron as they discuss some of the successful mechanisms they have seen deployed, and the resulting lessons learned.

Content level: Intermediate

Learning objectives:

1. Why tracking of third-party cost share is important, why a universal standard does not exist, various options for creating tracking mechanisms.

2. How to choose the right solution for your institution

Track: Advanced Finance Topics

Speaker(s): Sarah Glynias, Higher Education Consulting Analyst, Huron Consulting Group