Researcher

It is vital that the researcher take an active role in monitoring their research account as they are the ultimate authority on any expenditures made and will be personally responsible for any over expenditure. They are also responsible to the granting agency for the research work done as well as the financial management of the account.

If the account represents non-peer-reviewed, non-contract research, the account is not allowed to be in deficit.

The researcher has access to monthly financial e-reports and should review the reports to ensure that only proper charges have been made, and that the account balance is appropriate.

Department

The department, and more specifically, the Office of the Chair, has a large role in monitoring research accounts. Not only will they approve many of the expenditures made on the grants, they will also ensure that personnel issues are taken into consideration.

Financial e-reports for all department research accounts are forwarded to them each month, so they can monitor them and ensure no problems occur. The department also receives a copy of the Research Overdraft Report, which should be reviewed in depth. This report summarizes the accounts in the department that have a projected deficit.

Health Research Services (HRS)

This office serves as a resource for things such as space requirements. They will also monitor account balances for summary reporting purposes.

Research Finance

In conjunction with the researcher and the department, Research Finance monitors the financial status of all research grants. This includes reviewing the monthly account balances, and the day- to-day expenses.

Research Finance is constantly reviewing account balances; when expenses are submitted, Research Finance checks to ensure that the charge is appropriate for the account, and that there are sufficient funds to cover the expenses.

The Research Overdraft Report, based on month-end account balances, is distributed to senior administration within the faculty, and each department. This report lists every account that shows an actual or projected overdraft. Based on the information received from the department, researcher and HRS, Research Finance assigns a deficit “risk factor” to each grant. The risk factor will determine what actions must be taken by the senior administration and the researcher to clear the deficit.

Another large responsibility of Research Finance is the reporting to the granting agencies.

Research Finance prepares a Statement of Expenditures, at prescribed times, for grants that require such a report. This report is forwarded to the researcher and department for their attention. Research Finance also reports to the university on the status of all research accounts as required.