Post-Award Guidelines

Post Award Guidelines

The guidance provided here is meant to assist the VCU research administration community in complying with VCU policy, as well as federal, state, and sponsor regulations. The information shared on this webpage will evolve with changes in Federal law, sponsor requirements and institution’s needs. Additional detailed guidance and forms related to the post-award management of sponsored programs are published under this header on the website. Please contact gcavcu@vcu.edu with any questions.

Invoicing and Financial Reporting

Grants & Contracts Accounting and the Clinical Trials Finance Office are the only authorized fiscal offices for sponsored projects. Departments fiscal staff are not authorized to sign or submit financial reports and/or invoices to sponsors.

Invoices and financial reports must be submitted by the G&C grant accountant as an authorized representative of the university to maintain institutional internal controls.

If invoices or financial reports are prepared by the department, they must be routed to the G&C grant accountant with ample time for review and submission to the sponsor.

When required to submit invoices, financial/banking information or financial reports through sponsor specific web portals, access must be given to the assigned G&C grant accountant and Director, at the time of proposal submission or award issuance.

Most industry clinical trials are invoiced by the CT Finance Office.

Grants with expenditure exceeding the authorized budget will prevent Banner from generating a bill. Any cash deficits will be the department’s responsibility. Departments are responsible for covering cash deficits, including those due to sponsor non-payment.

Reports

Reports are available in the VCU Reporting Center - Finance folder to aid department administrators in financial monitoring of sponsored projects. Departments are responsible for monitoring sponsored program expenditures and deficits through regular financial oversight with the Principal Investigator.

Grant Monitoring Report (NEW)
Grant Deficit Report
G and C Grant Billing Drawdowns
Grants Budget and PTD Actual
Grant Expenditures Report
Grants and Principal Investigators
Grant ID Crosswalk
Responsible Organization Grant Monitoring Report with Labor
Transaction Detail - Grants
Clinical Budget to Payments Lookup
Funds with No Labor Charge

Payments

ACH Payments are the preferred method of payment for all sponsored projects.

Monitoring Deficits

Utilizing reports and information available in the VCU Reporting Center, RA and PI Dashboards and ECC is recommended for all sponsored projects.

Banner Finance is the official source of financial and institutional data.

Key Banner screens utilized for fiscal management of sponsored projects (Grants):

FRAGRNT - Grant Record: provides key attributes critical for award setup
FRIBDET - Financial Summary: provides total expenditures, bills and payments
FRAAREV - Revenue Detail: provides payment and invoice transaction details
FGITBSR - Fund Balance Summary: provides cash balances

Finance and Administration

University Controller’s Office