Intermediate/Advanced Concepts in Financial Management

May 20 - May 21, 2019
Hyatt Regency Miami
Miami, FL

Program Overview

The Intermediate/Advanced Concepts in Financial Management Workshop is for experienced financial research administrators.  Recommended for people with 7+ years of experience.


The 2 day intensive workshop provides a concept and process driven perspective on the day-to-day operations of a financial research administrator (for both central Post Award Offices and non-centralized departmental offices). Internal controls and audit compliance are woven into the covered topics. Attendees will learn to analyze processes to find gaps and document controls appropriately. The material will look at advanced costing topics, such as service/recharge centers and F&A rate calculations for Universities and nonprofit organizations, as well as managing non-federal grant/contract funds. The Single Audit (formerly A-133 audit) process will be explained and how to utilize the Compliance Supplement during the audit.
The following is a high-level summary of the topics to be covered:


Day 1:
• Introductions and Internal Controls overview
• Review of general business processes that affect financial research administrators
o Purchasing and A/P workflows – who’s approving what?
o The importance of using the right expense/account/object code
o P-Card controls and retaining documentation
o Trying to hire award personnel while the project has already started
o Payroll distributions and effort planning
o Forecasting/budgeting expenses to the end of the project, spend/burn rates, and unobligated balances – Do I have enough money?
o Equipment management
o Cost Transfers
o Patient incentive gift cards
o Financial Conflict of Interest (FCOI)
o Internal billing processes(Segway to service centers)
• Advanced Costing Concepts:
o Service Centers
 Exercise
o F&A calculations: Universities, nonprofits, for-profit
 Exercise – Analyzing expenses in cost pools
 Step down of cost pools
 Simplified method
 Using F&A calculation to drive Direct Cost Policy (consistency) and other direct cost examples (prepaid expenses, normally indirect costs, controls to flag costs that need prior approval, direct charging IRB fees?)
o Different effort certification and compensation compliance models
o Fringe Benefit Rates


Day 2:
• Managing non-Federal grant funds
o Clinical Trial budgeting and billing, and hospital/patient care billing to research awards
o Managing varying terms and conditions of various foundation sponsors
o Managing and Reconciling State, Revolving, and non-sponsored activity accounts in conjunction with sponsored accounts
o University Foundation/Alumni Donor Accounts
• Subpart F – Audit Requirements
o SEFA preparation and clusters
o Auditee and Auditor responsibilities
• Overview of Compliance Supplement and key parts
• Breaking down the key Compliance Requirements and documentation internal controls
o Allowable Activities and Allowable Costs
o Cash Management
o Eligibility
o Equipment and Real Property Management
o Matching, Level of Effort, Earmarking
o Period of Performance
o Procurement and Suspension and Debarment
o Program Income
o Reporting
o Subrecipient Monitoring
o Special Tests and Provisions (level of effort, salary cap)