Office of Grants and Contracts

OGC CONTRACTS

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TRAINING & COMPLIANCE

New Guided Buying in CU Marketplace

What’s Changing?

• ALL CU Marketplace users will see the new landing page
• News and information will be available on the Home page. Newest news first!
• New Dashboards
  • You’ll notice that across the top of the screen are direct links to the commodity dashboards.
  • Each dashboard is organized the same way with Guidelines & Best Practices at the top, links to the Form Process, Supplier Management Home, and Payment Process next, and then commodity specific information.

The Procurement Service Center (PSC) will be hosting Webinars to explain the changes. Dates/Times are listed below.

 Wednesday, May 25 @ 2 - 2:30 pm
Tuesday, May 31 @ 1 pm - 1:30 pm

You can register for the Webinars by visiting the following link: https://www.cu.edu/blog/psc-communicator/cu-marketplace-guided-buying-coming-soon. A User Guide and Video are also posted on this site.

Updated SkillSoft training is now available for the following courses.

• CU Marketplace – Requester
• CU Marketplace – Shopper

If you have any questions, please reach out to the Procurement Service Center Service Desk at 303.837.2161 or PSC@cu.edu.

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OGC POST AWARD

Cost Transfers

Below is a list of the best practices that we shared at the April Team Talks to assist you with your project management.

Best Practices

• Narrow the criteria when you are running the financial detail to the transactions in the account code and dates for the charge you are moving. Ensure that you are capturing from the date of the transaction to the current time-period to capture all changes.
• Say more than “to correct error” in the description of your journal entry or Payroll Expense Transfer. You should say what the error was, how it was discovered and if the transaction is > 90 days. Provide information on how this error will be prevented in the future.
• If moving charges to a fund 30/31, you should have a justification of why you are moving the charges to that fund. Suggesting you are moving charges related to a deficit on another project is NOT a valid reason.
• Review your fund 30/31 expenses monthly to ensure if there are errors discovered that they are corrected in a timely manner.
• If you have discovered something that should have been charged to a project, after the end date, you will need to also make sure there is budget and cash available. If the project is cost reimbursable, you may need to work with your Post Award and Billing Specialist to determine if we can either still bill or draw the funds for the project.
• Timeliness, timeliness, timeliness.
• The PET checklist should be uploaded as supporting documentation for your PETs.
• When submitting a cost transfer, ask the following questions: who, what, when, how and the value.
• If over the 90 days, why did the error occur and how will it be prevented in the future.

Click here to view the slides and session recording from the April 2022 Cost Transfers Team Talks session.

NIH Correction

NIH has provided a correction to stipend levels for Ruth L. Kirschstein National Research Service Award (NRSA) stipends, tuition/fees and other budgetary levels effective for fiscal year 2022. Please see Notice NOT-OD-22-132 for details.

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BILLING & ACCOUNTS RECEIVABLE

Fiscal year-end is just around the corner.  As we embrace the annual task of shoring up expenses, please take note of the following in your reviews.  Early action now can help ease your summer stress as the multiple June closes can have significant impact on invoicing.

• Identify projects with end dates and invoice deadlines that will be impacted.  This affects more projects than just those ending in June.
  • End date in April with 45- or 60-day final invoice deadline
  • End date in May with 30- or 45-day final invoice deadline
  • End date in June with 30 day or less final invoice deadline
  • In addition to final invoices, delays may be incurred for state sponsored awards or other sponsors requiring monthly invoicing deadlines.
• Review effort closely and if adjustments are required post PET’s in time for May business close.  Depending on the final invoice deadline, we may not be able to capture fringe for effort adjustments (PET’s) that post in June.
• Reach out to vendors and subcontracts to urge early submission of invoices to ensure all expenses have posted to general ledger.
• Provide all required June invoice backup (i.e., cost share, receipts) to your billing specialist prior to the 2^nd June close.

Our Billing Team will reach out to help coordinate the invoice deadlines and follow up to ensure we’re meeting contract terms.  Please let us know as any questions and/or concerns arise. 

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GENERAL ANNOUNCEMENTS

Slides from the May Team Talks on PI Transfers are available online.  The next Team Talks session will be in August. No Team Talks in June or July.

Job Opportunities - Post Award Administrator and Contracts Specialist

• Post Award Administrator - Interested individuals can review the posting in CU Careers, job number 25025.
• Contracts Specialist - This position will be available soon in CU Careers.

To subscribe to the GC-Updates list serve, click here.