For awards sponsored by federal and non-federal entities, financial reports will be submitted to the sponsor by OCGA no later than the due date specified in the award document. OCGA is responsible for preparing and submitting all interim and final financial reports to awarding sponsors using information provided in PeopleSoft (PS). If the financial information is to be included as part of the technical report, OCGA will work in conjunction with the department to collect and review financial information for accuracy before being added to the technical report.
Failure to submit a financial report within the specified timeframe puts the University at risk of having punitive actions imposed. Such action can include an awarding sponsor withholding an award(s) to an investigator or to the entire University, withholding of payments on invoices, or revocation of the Expanded Authorities Agreement, which affords the University latitude in the budgeting and management of federally awarded grant funds. Situations giving rise to such actions would undermine the University’s research and training functions, both being core functions of the University. Therefore, adherence to close out procedures is non-negotiable.