Financial Reports and Invoices

Frequently Asked Questions

  1. Where do I get a copy of a financial report or an invoice?
  2. When is a revised financial report prepared?
  3. What am I supposed to do when I receive a financial report for review?
  4. If as a Principal Investigator (PI) I receive a copy of an invoice that has been prepared by GCAS and sent to the sponsor, what do I do with it?
  5. What do I do when a sponsor contacts me for an invoice?
  6. Why is a member of GCAS checking on my progress/technical report?
  7. What should I do when I receive a 90-day review?
  8. When the award is being closed out, why is GCAS recovering IDC?
  9. Whom should I contact regarding a financial reporting extension?
  10. Whom should I contact regarding no-cost extension requests?
  11. Third Party In-Kind Contribution Forms - Why are the forms necessary and who should complete them?

Q. Where do I get a copy of a financial report or an invoice?
A.
  Please log into GW Documents as financial reports and invoices are saved to your award documentation within two weeks of being issued.  If the document cannot be found, please contact the Sponsored Project Accountant or Analyst assigned to your department as they can email a copy to you.

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Q. When is a revised financial report prepared?
A.
  Under the university’s policies, a revised financial report may be prepared when the revision is for extreme circumstances or if the fault lies with the central office.  

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Q. What am I supposed to do when I receive a financial report for review?
A.
  The financial report should be examined to ensure that all charges that you expect to see are posted (i.e., salaries are for personnel assigned to the award). You also want to make sure that there are no outstanding invoices that have not been processed. If you agree with the report, then sign the PI certification letter and email it back to your designated Sponsored Project Accountant or Analyst.

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Q. If as a Principal Investigator (PI) I receive a copy of an invoice that has been prepared by GCAS and sent to the sponsor, what do I do with it?
A.
  GCAS sends a copy of the invoice to you as a courtesy for your information.  No action needs to be taken.

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Q. What do I do when a sponsor contacts me for an invoice?
A.
  The PI should either forward the call to GCAS or the PI can take down the pertinent information from the sponsor and immediately notify GCAS.

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Q. Why is a member of GCAS checking on my progress/technical report?
A.
  In some instances, GCAS is only allowed to invoice a sponsor upon completion of a deliverable. Therefore, from time to time, GCAS will have to inquire about the progress/technical report.

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Q. What should I do when I receive a 90-day review?
A.
  When the PI receives a 90-day review from the Research Administrator, the first step is to determine if a No Cost Extension should be requested from the sponsor. Other items to verify include:

  • Are all salaries charged to the award?
  • Are there open encumbrances that need to be liquidated?
  • Have all expected expenses posted to the award?

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Q. When the award is being closed out, why is GCAS recovering IDC?
A.
  Please refer to the Award Management & Closeout Policy (PDF).

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Q. Whom should I contact regarding a financial reporting extension?
A.
If it is determined that a reporting deadline will not be met, please contact the sponsor immediately for a filing extension.

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Q. Whom should I contact regarding no-cost extension requests?
A.
If you would like to request a no-cost extension, please contact your Sponsored Project Administrator/Manager in the Office of the Vice President for Research (OVPR).

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Q. Third Party In-Kind Contribution Forms - Why are the forms necessary and who should complete them?
A.
Third party in-kind contribution forms are used to document non-cash contributions (i.e. donations of property, equipment, material, or services) in order to fulfill the matching requirements of a contractural agreement.  The PI is responsible for ensuring the form is completed per 2 CFR 200 Uniform Guidance Subpart E - Cost Principles.

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