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- Reporting Fundamentals
- Financial Status Reporting
- Records of Research Expenditures
- Technical/Progress Reporting
Most sponsored awards require progress reports and final reports on the financial and technical aspects of your award. Sometimes, financial reporting is embedded within progress reports. These requirements are usually outlined in the Notice of Award (NOA) and/or research agreements.
Reporting requirements vary in frequency, format, and content depending on the sponsor rules and agreement specific requirements. Principal Investigators (PIs) should take responsibility for understanding the reporting requirements of a particular sponsor.
- Possible reporting periods include interim, annual, semi-annual, quarterly, and every 18-months. Monthly reporting requirements are rare and should be avoided if and when possible.
- Deadline to submit financial reports could be anywhere between 15 to 90 days within the fiscal year-end or reporting period end, depending on agency requirements.
- Federal Government agencies (e.g., Tri-Agency) fiscal year-end is March 31.
- Some agencies require supporting evidences to be submitted along with financial reports.
Failure to fulfill reporting requirements may result in:
- Delay or termination of current awards
- Delay or cancellation of future installments
- Simon Fraser University may have to repay the sponsor, up to a full refund
- Simon Fraser University may not get paid
- Simon Fraser University may be debarred from future awards
Research Accounting is responsible for preparing and submitting financial reports to the sponsor, according to the terms of an award. PI may review and sign the financial reports to ensure that costs are eligible and accurately reported.
For other considerations such as matching funds and in-kind contributions, please contact Research Accounting.
The university and/or PI must maintain clear, complete and accurate records of receipts and expenditures for the funded research project, including verifiable audit trails with complete supporting evidences for each transaction, for at least seven years. Please check sponsor guidelines for detailed information regarding record keeping of research expenditures.
PI must provide supporting evidences for all expenditures charged to the research account. When the link to the sponsored research is not evident, appropriate justification is required in order to demonstrate that the expenditure is a direct cost of the research.
PI is responsible for submitting interim and final progress reports to the sponsor within the specified timeframe and format indicated by the sponsor. If no format is indicated, the PI is advised to use a standard format that addresses the following program management concerns:
- A review of accomplishments to-date as compared with schedule and objectives as outlined in the original proposal or as modified when the contract was awarded or amended.
- A review of challenges faced by the project in attempting to meet the schedule and objectives laid out in the original proposal or the most recent modification.
- Supporting statistical data or documentation on overall project health.
- Administrative activities, such as documentation or materials produced, personnel issues, etc.