Transcript Transition Presentation

Science at the heart of medicine
Research Finance
Transition to the new
Albert Einstein College of Medicine
Date: Tuesday, April, 7 2015
Location: Third Floor Dean’s Conference Room 303
Time: 4:00 PM
Why do we need to transfer via Successor in
Interest all grants?
• As of 7/1/15, all Albert Einstein College of Medicine of
Yeshiva University grants will be transferred to a “new”
Einstein TAX ID
• A new TAX ID requires creating a new NIH “account”
to collect/draw down funds
• NIH and other agencies will no longer recognize Albert
Einstein College of Medicine of Yeshiva University as
the recipient of sponsored funds, we will become
> Albert Einstein College of Medicine
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Successor in Interest
> Requires a formal request (face page) to NIH including:
• Company letterhead with sign/date by company official
• Complete listing of grants to transfer
• Complete listing of grants currently pending
• Demographic information, etc.
• Anticipated or Unobligated balance as of 6/30/15
> Does NOT require a Progress Report
> Does NOT require Equipment Identification
> Central Administration (Research Finance (RF) & Office of
Grant support (OGS) is coordinating this formal request.
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Milestones
March &
April
Calculate 6/30
anticipated balance
to transfer
May &
June
Load transferred
balance as
Provisional Budget
July
LRDs, OTPS CT’s /
all adjustments post
to General Ledger
August &
September
Submit FFR
October &
November
Receive NOA &
adjust budget
Example Scenario
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Calculate anticipated balance as of 6/30 to
transfer
• When: Due to NIH 4/1/15
• What: Estimate anticipated balance as of 6/30/15 to
transfer (transfer) to Albert Einstein College of Medicine
• How: Focus group designed reporting logic to arrive at
the anticipated balance
1.
2.
3.
4.
Salaries & Fringe (Einstein) – as of 3/15/15 in a banner test environment
changing all budget end dates changed to 6/30/15 and using banner to
provide encumbrance
Open PO’s -all open PO balances as of 3/15/15 as the encumbrance
Burn rates used to project animal and shared scientific resource facility costs
F&A –by fund and base calculate the F&A on the encumbrances as stated
above.
Return to Milestones
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Load transferred balance as Provisional
Budget
• When: 7/1/15 - our due date
• What: Load transferred balance as the 7/1/15 Provisional
Balance into Albert Einstein College of Medicine
• How:
1. RF will provide the transferred balance
2. DA will determine the
1. Salaries & Fringe
2. OTPS (other)
3. Equipment/Capital
4. F&A / Indirect
Return to Milestones
cost pools:
5.
6.
7.
8.
9.
10.
Patient Care
Trainee Tuition
Trainee Health Care
Lab Supplies
SubK
Animal
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July…..July….July
• When: July
• What: LRDs, OTPS CT’s / all adjustments post to
General Ledger
• How:
1.
2.
3.
4.
Einstein Intercompany Billing due 7/8/15
LRDs must be processed by 7/15/15
OTPS CTs must be processed by 7/15/15
All other transactions to include for goods & services prior to 7/1/15
must be processed by 7/31/15
1. RF will be assisting this effort by reaching out to outgoing
subcontractors requesting expedited invoices by 7/31/15
Return to Milestones
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Submit FFR
• When: Due to NIH by 9/30/15
• What: Routine FFR process. 90 days from project
end date. UG states 120 days to close, this doesn’t
translate to 120 days for FFR.
• How:
1.
2.
3.
FA will submit workbook 7/10
FA will submit workbook with adjustments 8/5
FA submits to manager, runs necessary banner processes
and submits to FFR by 9/23 (Federal fiscal year ends
9/30/15, therefore we are aiming to submit 1 week before)
* Invoices are on 45 day terms
Return to Milestones
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Receive revised NOA & Budget Adjustment
• When: October and November
• What: NIH will send us a revised NOA with the
unobligated balance reported on the FFR.
• How:
1. RF will email as usual process.
2. DA will determine the decide the cost pools for the
variance
3. RF will upload into banner a budget adjustment so our
Revised Budget (Estimated Unobligated Less Actual
Unobligated) = Revised NOA
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Example Scenario
• Grant awarded $500K
• 4/1/15 -- We estimated unobligated balance = $175,150
• 9/23/15 -- FFR filed an unobligated balance = $116,800
• Budget Adjustment needed to reduce the budget is $58,350
> $175,150 - $116,800 = $58,360
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Example Scenario
Cost Pool
Salaries & Fringe
SubK
Estimated unobligated Revised NOA (after
Balance
filing the FFR)
40,000.00
100,000.00
Budget
Adjustment
40,000.00
-
50,000.00
(50,000.00)
Animal
-
Patient Care
-
Trainee Tuition
-
Trainee Health
Care
-
Lab Supplies
5,000.00
-
(5,000.00)
-
Other OTPS
F&A
TOTAL
30,150.00
26,800.00
(3,350.00)
175,150.00
116,800.00
(58,350.00)
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Communicate, Communicate, Communicate
• Monthly updates at Administrators meetings
• Collaborating with the AECOM communications
department:
> Likely create a website to centralize communications:
• FAQs
• Who’s Who
- Graphic timelines
- Archive communications
• Faculty update likely at an upcoming Senate meeting
• Announcement broadcast the week of 4/6/15
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What else is happening?
• During April and May RF, will begin compiling
schedules to aid the FFR distribution with deliverable
due dates.
> Objective to plan ahead for upcoming vacation,
holidays, etc.
•
•
•
•
Outside resources will aid the grant transfer
1,000 expired funds need to be closed
Blackout dates? - very likely – TBD
Fund/Grant # changes? – TBD
> Future direction will follow
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