About Award Management

Award Management is a process that encompasses University, school and sponsor policies and procedures pertinent to the project. It is often referred to as the “post award” phase of the life cycle of an award. Sound management of sponsored funds is critical in maintaining the public trust in research results and outcomes, its trust as research participants, and its trust in how public and private funds are spent.

MONITORING EXPENDITURES

Sound financial management of sponsored awards involves regular review and reconciliation of project expenditures to ensure compliance with the terms and conditions of the award, the Uniform Guidance, and Sponsored Expenditures Guidelines.

The financial activity of an award should be monitored from the day the account is active and until it is terminated. HART (Harvard Analytics and Reporting Tool) is Harvard’s web-based tool for generating financial and sponsored management reports. The Transaction Listing Report, Period Transactions, Sponsored Invalid Code Combinations along with eCRT certifications are four of the reports that form the foundation for conducting an effective review.

    QUESTIONS TO ASK

    • Are the expenses on the Transaction Listing (TL) what you expect?
    • Are expenses in line with the budget on the Period Transaction?
    • Are there any transactions on the Sponsored Invalid Code Combination that need to be removed?
    • Are expenses directly beneficial to the award?
    • Is the expenditure rate consistent with the project schedule?
    • Are expenses incurred between the start and end date of the award?
    • Are expenses allowable, reasonable, allocable and consistently treated?       
    • Are expenses in line with Sponsored Expenditures Guidelines?
    • Are expenses in line with the terms and conditions of the award?
    • Is the effort for the PI and other key personnel consistent with those identified in the Notice of Award?  
    • Are the personnel charged to the project accurately reflected on the Salary and Effort Certification Report?