Ollscoil na hÉireann, Gaillimh
FINANCIAL POLICY & PROCEDURES MANUAL
CONTRACT RESEARCH
Version: V6 OT Aug 12Replaces: V5______
Approved by: FRC Date: Aug 12 ______
- STATEMENT OF POLICY
1.1.The University seeks to encourage contract research activity as an integral part of the University’s Strategic Plan.
1.2.The University seeks to ensure that its financial practices and procedures inrelation to Contract Research are objective, transparent and represent current best practice in relation to these matters. The majority of contracts will contain therelevant regulations and proceduresgoverning allowable costs, justifications of same, payments, disbursements, audits etc., and will detail the manner in which financial reports/cost statements should be prepared and submitted to the funder.
1.3.The University also recognises and in general adopts the EU Frame Work model contract regulations and procedures as representative of best practice in respect for contract research that are not governed by a written contract.
1.4.All financial records pertaining to University research activity must be maintained in a properly designated account (computer record) under the administrative control of the Bursar.
1.5.All contract research should include the University’s overhead costs at the rate allowable by the funder;where this is not explicitly specified in the contract,a minimum rate of 10% on the total directfunds will apply.
1.6.All research proposals with a budget over €50,000 must be formally approved by the Research Accountant.
1.7.The University’s policies including the University’s current Intellectual Property apply to research activity.
- AUTHORITY AND RESPONSIBILITY
2.1.The University Authority has overall responsibility for financial management of contract research projects. In general these functions are delegated through a decentralised structure with limited authority being vested in relevant University officers as follows: -
a.)The University staff member assigned Budget Holder status for the contract in the financial systemhas overall responsibility and authority for the management of the project budget subject to University & Funderpolicies and procedures.
b.)TheLegal Services and Contracts Manager , under the general direction of RúnaínahOllscoileis responsible with the Budget Holderfor ensuring that the general terms and conditions of all 'Research' project contracts, are in agreement with University Research policies. The Budget Holder and the Legal Services and Contracts Managershallsign all relevant 'Research' project contracts, on behalf of the University.
c.)The Research Accountant under the general direction of the Bursar, is responsiblefor preparing and approving the financial reports of all 'Research' project contracts and ensuring that they are in agreement with University Financial Policies and Procedures. The Principal Investigator/Budget Holder and Research Accountant shall authorise and sign all financial ‘Research' accounting reports on behalf of University.
d.)The Director of Human Resources under the general direction of the Executive Director of Operation is responsible for ensuring that all 'Research' employment contracts are in accordance with University policies.
- PROCEDURES
3.1.Prior to submission to funding agencies the Principal Investigator/Budget Holdermust submit the completed Proposal Submission Form with approved budget to the Research Office.
3.2.The Principal Investigator/Budget Holder engaged in contract research submissions/applications must ensure that the correct VAT status is ascertained and applied to project costs and subsequent administration.
3.3.The Principal Investigator/Budget Holdermust obtain approval for all budget proposals valued €50,000 or greater fromthe Research Accountant.The Research Accountant will advise,as requiredon other budget cost.
3.4.All Research Contract must be authorised and signed on behalf of the University by the Director of Technology Transfer or nominee.
3.5.The Research Accountant will releasebudgets on the University Financial System recording the detailed budget agreed in the contract.
3.6.The Proposal Submission Form, budget approval (over €50,000)and the Research Contract must be fully completed and signed the prior to the opening of a research/project account on the University Financial System.
3.7.The Principal Investigator/Budget Holderis responsible forregularly reviewing and ensure the research/project account is accurate.
3.8.Project labour cost, charged to a Research Project must have formal employment contracts or have a scholarship tax exemption. Employment contracts may only be issued by the Human Resources Office following confirmation of availability of Budget from the Research Accountant(via Post Proposal Form).
3.9.Time sheets which record all hours charged to the project budget must be completed by each employee or student, and countersigned by the Budget Holder. Thesample time sheet form should be used unless the funder specifies a different layout. Completed time sheets must be made available to the Research Accountant on request.
3.10.All claims in respect of travel, subsistence and such costs must be submitted by the claimant on the University claim system.
3.11.The Principal Investigator/Budget Holdermust ensure that all pay and non pay expenditure documentation record the necessity of the cost, VAT code and its relationship to the project, unless this information is clearly recorded on the source documents.
3.12.The Principal Investigator/Budget Holdermust ensure that all Subcontract activity hasfunder approvaland thatformal contracts are authorised and signed bytheLegal Services and Contracts Manager, prior to the commencement of the work. Copies of such contracts must be made available to the Research Accountant on request.
3.13.The Principal Investigator/Budget Holdermust ensure, in accordance with EU Framework guidelinesthat only those costs incurred within the contract period’s official start and end dates, may be claimed, unless specifically approved by the funder.
3.14.The Principal Investigator/Budget Holdermust ensure thatan appropriate project file must be maintained by the Budget Holder to include the Research Contract, Timesheets and other documentation as stipulated by the funder.
3.15.The Research Accountant will provide monthly budget versus actual reports and income to the Principal Investigator/Budget Holderand their Administrative nominee. Summary Reports will be presented to the Finance Resource Committee, on a regular basis.
3.16.The Research Accountant must ensure that cost statements/financial reports arebe reconciled to the University Financial System prior to submission to the funder.
3.17.The Research Accountant shall, unless the research contract specifies otherwise present cost Statements/financial report to the Funder.
3.18.Where specific "in house" costs e.g. a cylinder of gas, are to be charged to a funder’s project, formal documents must be issued by the vending department/project to the purchasing project and forwarded to the Research Accountant, for processing where these costs are deemed allowable by the funder.
3.19.Six months after the completion of the project, where the final funds have been received a final account will be presented by the Research Accountant to the /Budget Holder detailing the closing procedures of the contract.
3.20.The Research Accountant shall review all accounts in the Research Ledger on bi-annual basis to ensure that debit balances are recoverable and that credit balances are adequately controlled.
3.21.The Vice President of Research will review the bi-annual report and advise on follow up actions.
3.22.The Research Accountant shall present a bi-annual report to the Registrar, Bursar and Vice President of Research and completed projects with large credit balances.
StiúrthóirCuntasaíochtaAirgeadais
Aug 2012