Overview
Depending on the award type and sponsor, there are numerous final reports that may be required. You should contact OSP to determine which reports are required for your project. However, some of the common final reports include:
- Financial
- Technical
- Property
- Patent
While OSP has primary responsibility to complete and submit only the final financial report, we do help coordinate all final reporting requirements to ensure compliance with all terms and conditions. The principal investigator (PI) has primary responsibility for the management and conduct of sponsored activities and shares in final report responsibility. As part of that responsibility, PIs have primary responsibility for technical reporting and share responsibility to ensure all other required reports are completed and submitted.
Technical Reporting
PI Responsibility
Sponsors typically require PIs to submit regular technical reports. Federal sponsors generally require annual technical reports and a final technical report due 90 days after the completion of the project. Nevertheless, each sponsor will have different requirements, and it is the PI’s responsibility to become familiar with the reporting requirements. To assist the PI, the Office of Sponsored Programs (OSP) will provide technical report requirements at the start of the project. Additionally, OSP will send notifications to the PI on an ongoing basis when technical reports are due and will continue to follow up until all reports are submitted.
If a principal investigator cannot submit a technical report by a required due date, the PI should contact OSP prior to the due date with a written justification for the delay. In some cases, OSP can contact the sponsor to request an extension for the report if sufficient justification exists. When a PI has not prepared a technical report by the required due date and has not sought an extension or provided sufficient information to justify a delay, the following delinquent reporting procedures may be enforced to ensure compliance.
Delinquent Technical Reports
Delinquent reporting is a significant issue and can negatively impact payment on individual awards and future funding for the entire university, and it can damage UNLV’s reputation. Furthermore, audits, including our annual A-133 audit, encompass reporting compliance, so federal penalties and other consequences due to noncompliance are real possibilities. Consequently, the following procedures are designed to ensure timeliness and full compliance with agency reporting requirements. A dual approach has been introduced to appropriately communicate the importance of timely reporting and implement measures to ensure reports are submitted within the timelines provided in the sponsored awards.
It is anticipated that this two-phase approach will allow OSP to ensure UNLV’s contractual obligations are met in a timely manner, provide specific information to university administrators to help them address reporting deficiencies, prevent lost funding due to historically delinquent reporting, and restrict penalties to those with seriously overdue reports.
- Communication
The Office of Sponsored Programs will provide a reporting schedule at the beginning of the award and will regularly notify the PI when progress reports are due and when awards are ending so the PI can fulfill the reporting requirements. Additional follow-up will occur until verification is received documenting the report(s) have been submitted. If the report is not submitted by the due date, the chair, center director, and/or dean will be copied on the correspondence so they are aware of reporting noncompliance and can become actively involved in resolving the problem. This procedure will continue until the report(s) become seriously delinquent (more than three months’ overdue) or the reports are submitted.
- Account holdup
Once a report becomes seriously delinquent (more than three months’ overdue) OSP will place a “hold” on the setup of any new accounts for the PI. New accounts include, but are not limited to, new awards, continuations, and risk accounts. If a co-PI has a separate account and has a seriously delinquent report, this procedure will also apply. Accounts will be released as soon as OSP receives documentation that the delinquent report has been submitted. In extreme cases, particularly when account holdup does not resolve the noncompliance issue, OSP may move to suspend all proposal review for the PI in question. All such actions will be in full consultation with the associate vice president for research and will occur with the support of the VPR office.
Final Invoice and Financial Reports
When the final budget period ends, the financial reporting process begins. The process is composed of an adjustment period, a review of the account, and preparation of the final financial report.
Federal sponsors typically require submission of Financial Status Report (FSR) SF-269 within 90 calendar days from the expiration date, which allows for a 60-day adjustment period. If the award does not indicate a due date for the final financial report and we cannot reasonably assume 90 days is appropriate, the research accountant will contact the sponsor to establish a due date.
Adjustment Period
The purpose of the adjustment period is to capture final accounts payable transactions, service center and telecommunication charges, and other final adjusting entries. All final adjusting entries must be processed during this period to allow sufficient time for all charges to be transferred before the close of this period.
Account Review
During the life of the award, it is important to review the award and ensure that the charges are appropriate and allowable. During the pre-closeout and adjustment period, it is imperative that the following areas be reviewed and addressed as appropriate:
- Subcontracts/subawards
- F&A costs
- Purchasing
- Cost sharing
Once adjustments and account review and reconciliation are completed, OSP will complete and submit the final financial report directly to the sponsor. This is often done electronically, but paper reports are still required in certain cases. A copy of the report is always retained in the OSP project file for audit purposes.
Invention Disclosure Report
If your project results in a patentable invention, you should coordinate with OSP and the Technology Transfer Office to ensure the necessary reports are completed and submitted.
Property Reports
OSP will coordinate with the PI and Property Control if a final property report is required.