Virtual Financial Management Conference - Financial Management Certificate

WS1: Financial Management Workshop | It's About the Money (Parts 1 and 2) 

Content Level: Basic

As research administrators responsible for all institutional research and related activities involving externally and internally sponsored projects, it is important to be conversant with a myriad of topics related to managing sponsored projects. Having an understanding of financial management is an important area for those who are in the pre-award and compliance as well as post award. As a result, this workshop will highlight the roles and responsibilities of the administrative/scientific staff while identifying the types of funding instruments institutions receive to support their research programs. The workshop will also highlight the administrative requirements specifically outlined within 2CFR 200 (Uniform Guidance) with in-depth discussions surrounding topics such as compensation, prior approval requests from sponsor, re-budgeting, cost transfers, cost sharing and standards regarding documentation for all expenditures and various ways to manage based on shared experiences.

Learning Objectives:

1. Understand ways to assure compliance with award requirements throughout the projects duration, closeout, and beyond;
2. Learn the importance of developing a budget that is compliant and supports the scope of work being performed;
3. Recognize how sound financial compliance administration can be bolstered by institutional policies and strong channels of communication/collaborations across the research enterprise

Prerequisites: None

Must take five, one from EACH category. 

I. Facilities and Administrative Costs

W103: Fundamentals of Facilities and Administrative (F&A) Cost Allocation 

Would you like a basic understanding of what a facilities and administrative (F&A) cost rate is and why it is important? This session will reveal the mystery of F&A and provide an overview of the process, the terminology, and how everyday spending decisions become the basis of the costing that is reflected in the F&A Rate. In addition, we will explore what happens after the rate is calculated, the importance of F&A, and some of the frequent campus concerns about F&A costs.

Content level: Basic 

Learning objectives:

1. Acquire a basic understanding of the F&A allocation process. 
   
2. Review what happens after the rate is calculated. 

Track: Financial Leadership 

Speaker(s): Cathy Snyder, Higher Ed Consulting Manager, Huron Consulting Group; Martin Smith, Higher Ed Consulting Manager, Huron Consulting Group

T302: Application of F&A Rates from Calculation to Utilization 

This session will provide an overview of F&A rates that includes the preparation of F&A rates proposal, submission and negotiation, and application of negotiated F&A rates from Pre-Award to Post-Award/Audit.

Content level: Basic

Learning objectives:

1. Gain a general understanding of how F&A rates are prepared and determined/finalized.
   
2. Learn more about how the negotiated rates are utilized from pre-award to post-award. Recent F&A audit hot topics will be discussed.

Track: Grant Accounting 

Speaker(s): Jennifer Mitchell, Higher Ed Consulting Manager, Huron Consulting Group; Kathy Mustea, Grant and Contract Manager, DCRI, Duke University 

II. Internal Controls

T205: Uniform Guidance Deeper Dive

Description coming soon

Track: Advanced Finance Topics

Speaker(s): Ann Holmes, Assistant Dean, University of Maryland; Rebecca Hunsaker, Executive Director of Research Management, University of Maryland

III. Post-Award Financial Management

M201: Post-Award Financial Management: It’s Like Typical Institutional Administration…Except When It’s Not

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

Track: Grant Accounting

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

T104: I am Being Audited, Now What?

At some point, every higher education institution (HEI) or organization receiving grant funding will be audited by the sponsor. Therefore, grantee organizations must prepare for those audits.

This session will:
• demystify the audit process from the audit planning to the reporting and,
• identify common areas of compliance vulnerability and,
• suggest efficient ways to mitigate risk.

Content level: Intermediate

Learning objectives:

1. Discuss how to best prepare for audit at your institution. 
2. Identify risk and review efficient ways to mitigate those risks. 

Track: Advanced Finance Topics 

Speaker(s): Sam Mombou, Director of Sponsored Programs, University of Nebraska Lincoln

T301: Best Practices for Monitoring Research Expenditures – 2024 Edition

As recipients of sponsored research funding, universities and institutes of higher education have an obligation to ensure that all expenditures incurred on behalf of a given award benefit that award. From the individual PI to the department administrator to central administration, there are many parties within an institution which have responsibility for monitoring and reporting on expenditures. A proper monitoring program begins with a training program that educates the research community about spending on sponsored awards. In addition to training strategies, other key elements that will be discussed include: roles and responsibilities related to financial grants management, the different types of reports that can be used to manage awards and track research activity, the world of RPA (robotics process automation) and how that has been implemented in post award management, the value of our PI Articles and other outreach efforts, working with internal and external auditors, and miscellaneous thoughts related to award management.

Content level: Intermediate

Learning objectives:

1. Understand the types of expenditures (both direct and indirect) that institutes of higher education incur to support research.
2. Learn the key areas of focus for expenditure management and strategies that can be used to monitor spending.

Track: Grant Accounting 

Speaker(s): Joshua Rosenberg, Senior Director, Grants and Contracts Accounting, Georgia Institute of Technology

IV. Property/Equipment/Procurement Standards

T102: Asset Management, We Bought it ...... Now What?

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. Understanding the procurement thresholds of government properties: government furnished property (GFP), contractor acquired property (CAP) and fabricated/constructed equipment. Describe the purchasing process of equipment and how to account for them.
2. Bridging the communication gap that exists between departments and central offices to increase their understanding of the role and responsibility of each party throughout the equipment’s life cycle from purchasing to reporting and Audit, and elaborate on the Policies and Regulations that govern property management and describe the acquisition process and safeguarding of an asset within the institution.
   

Track: Non-Financial Post-Award 

Financial Management Certificate: Property/Equipment/Procurement Standards

Prerequisites: Understanding of Uniform Guidance 2CFR200 Subpart D and Federal Acquisition Regulation (FAR) Part 45, and FAR 52.245-1.

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

V. Subrecipient Monitoring

W303: Introduction to Subrecipient Monitoring

What is “Subrecipient Monitoring?” This presentation will discuss at a high-level the regulatory foundations, organizational requirements, lifecycle touchpoints and the potential challenges institutions face and approaches to manage them.

Content level: Basic

Learning objectives:

1. Develop an understanding of the Uniform Guidance subrecipient monitoring regulations. 
   
2. Review the basic framework of a subrecipient monitoring program. 

Track: Non-Financial Post-Award

Speaker(s): Simone Barnhill, Consulting Manager, Huron Consulting Group; Webb Brightwell, Higher Ed Consultant Senior Associate, Huron Consulting Group

Must take three.

Electives vary from meeting to meeting. Please reference the Financial Management Tracking Sheet for the most up-to-date list of elective sessions for this conference.