Policies & Procedures


Section: C&G
Part: POL
Statement No.: 4.1
Date: 02/04/08
University of North Carolina - General Administration
Administrative Policies and Procedures Manual
Title: Compliance Responsibilities

Sponsored Programs and the Division of Finance are responsible to UNC and to funding agencies for the financial and regulatory administration of all contracts and grants awarded to units with reporting responsibilities to the UNC Office of the President. This responsibility includes, but is not limited to:

    a. Establish, communicate and enforce policies and procedures consistent with federal, state and sponsor regulations;

    b. Review and approve contract and grant applications for administrative and regulatory compliance

    c. Determine the propriety and reasonableness of costs;

    d. Exercise budgetary control of contracts and grants funds;

    e. Prepare and submit financial reports and invoices for federal and certain other sponsors;

    f. Make timely deposits of contract and grant receipts from sponsors and follow up with sponsors on delinquent payments;

    g. Prepare timely G/L cash reconciliation;

    h. Process prior approval requests when sponsor has delegated the authority or submit requests to sponsor when necessary;

    i. Document compliance with cost sharing commitments on sponsored projects.

    j. Submit final financial reports;

    k. Maintain an effective, auditable effort reporting system;

    l. Develop and negotiate UNC's F & A cost rate;

    n. Coordinate formal audits or interim reviews of contracts and grants by sponsoring agencies;

    o. Provide support and guidance to work units for the effective administration and financial management of contracts and grants;

    p. Monitor financial and compliance responsibilities delegated to work units to ensure UNC compliance (with the exception of all technical aspects of the award);

    q. Perform annual sub recipient monitoring in accordance with OMB Circular A-133 and UNC procedures;