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ASRSP News & Updates
Federal Government Shutdown: Northwestern continues to monitor the federal budget negotiations in Congress. At this time, the November 17th shutdown looks to have been averted. As a reminder, the most important action for Northwestern’s research activity is to spend federal funds according to plan to ensure funds can be drawn timely.
NIH FFR Reminder Notifications: Beginning this month, NIH will send monthly reminders to recipients whose Final Federal Financial Reports (FFRs) have been rejected. ASRSP staff will review any rejected FFRs against current expenditures as reported in the GM045 to determine if an updated FFR can be submitted. Accurate, up-to-date, signed GM045 reports are an internal control that ensure both departments and ASRSP are in agreement on the financial status of an award. The GM045 is the basis for ASRSP to fulfill its contractual obligation to report on expenditures from our financial system of record.
NIH policy requires that recipients submit a Final FFR within 120 calendar days of the end of the period of performance (project period). ASRSP and department staff initiate closeout procedures 90 days before the end date of the period of performance.
Payment Requirements: Northwestern and federal policies require payment requests to contain specific information. Administrators and ASRSP staff should review these items for the following requirements and return for correction as needed.
Proper invoices: An invoice is considered proper when it contains the following elements, as well as any additional information as specified in the award terms and conditions:
(i) Name and address of the contractor.
(ii) Invoice date and invoice number.
(iii) Contract number or other authorization for supplies delivered or services performed.
(iv) Description, quantity, unit of measure, unit price, and extended price of supplies delivered or services performed.
(v) Shipping and payment terms (e.g., shipment number and date of shipment, discount for prompt payment terms).
(vi) Name and address of contractor official to whom payment is to be sent (must be the same as that in the contract or in a proper notice of assignment).
Reminders
Winter Recess: Due to the University's Winter Recess, ASRSP must implement early deadlines for December financial reporting:
Subcontract invoices should be sent to ASRSP by November 30, 2023
Cost and payroll journal entries must be posted by December 7, 2023
Final cash draw process for federal awards will begin on December 12, 2023
Term Time (New feature!)
Post award: Post award refers to all activity that takes place once the award is accepted by the institution. Specific post award functions include drawing or invoicing for funds, monitoring and reporting on expended funds, responding to audit requests, reconciling personnel effort, and processing closeout. At Northwestern, ASRSP is the post award department.
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