OGC News - May 2021
Financial Services ConnectionMay 3, 2021
Immediate Changes to NIH Policies Related to Closeouts and Summary of Recent Significant Changes to the NIH GPS - April 2021
Starting April 2nd, NIH has revised procedures related to drawing for late expenses. This is in line with their prior releases to continue their efforts towards enforcement of their 120-day closeout policy. This change will put a hard stop on our ability to draw for late expenses in PMS by automatically making the funds unavailable. This will put a significant importance on departments timely posting of expenses. Any expenses posted more than 90 days after the end date may be at risk of not being reimbursed by federal draw.
OGC Team Talks - PostAward Project and Awards Closeouts
Mark your calendar for May 18, 2:00pm! The OGC PostAward team will be presenting topics related to project and awards closeouts.
Topics will include:
- Review of current closeout reports, projects status and procedures.
- OGC closeout initiative for past due closeouts.
- Updated NIH GPS Closeout Policy, and the immediate change and its impact that this hard stop has on our ability to draw for late expenses and to revise FFR’s to report those expenses. (See Significant Changes to NIH GPS article in current newsletter.)
NCURA Training - May 6
Financial Services and RAIN are partnering to provide free access to an upcoming NCURA webinar entitled “Excel Tips for Pre- and Post-Award Administrators.” The Webinar will be held on May 6, 2021 at 12:00pm.
NCURA’s webinar description: Do you use Excel to analyze and report data? If so, you’ve probably asked yourself, "Why does this take so long? Is there a better way?" If you use Excel for budget development, you have probably asked yourself, "How can I develop a budget more quickly/accurately?" In this intermediate-level session, you will learn how to use tables, formulas, pivot tables, and conditional formatting that will help you navigate your path to success. This is a 90-minute session and participants should bring their own laptop to the workshop. Excel templates will be provided on the day of the workshop for participants to use as they follow-along. Adequate time will be provided for participants to personalize the templates for use back home.