######### ######### ######### ######### ######### ######### ######### ######### ######### ######### ######### ######### ######### ######### ASRSP News & Updates NIH Unilateral Closeout: Per the NIH Grants Policy Statement, NIH is authorized to initiate unilateral closeouts for award recipients who fail to meet the 120-day deadlines for financial and performance reporting – and report this noncompliance in the institution’s SAM.gov record. In the most recent notice on the topic, NIH Division of Grants Compliance and Oversight stated it will now “strictly enforce its closeout policies.” NIH will retroactively report on unilateral closeouts that have taken place since January 1, 2023, which includes one award received by Northwestern . A unilateral closeout is a serious action with consequences to the investigator’s and University’s reputation, and invites additional audit scrutiny. This is visible to sponsors and can affect future funding from any sponsor, for any investigator. Best practices that help facilitate timely closeouts include adhering to a spending plan, posting charges early and regularly, and reconciling monthly. NIH Salary Cap: The NIH released its annual notice on salary limitations for grants, which set the salary cap of $221,900 effective January 1, 2024. The NU Salary Cap Calculator and Salary Planning Templates have been updated with this figure. Single Audit: The FY23 Single Audit is on track to be submitted ahead of schedule. Looking ahead, the FY24 Single Audit is expected to focus on research and development (R&D). That means sponsored research activity will be reviewed with a primary focus on evidence of internal controls; adherence to policies, procedures, and terms and conditions of the sponsored award; cost allowability; and proper documentation. Each transaction should be considered auditable. The following best practices support compliance in the areas examined in audit: • Test allowability (consider the cost principles: reasonable, allowable/permitted, allocable, consistently treated) • Prepare comprehensive documentation • Retain evidence of transaction review and approval • Reconcile accounts monthly • Resolve overdrafts Effort Reporting: The first semi-annual reporting period is coming soon. Below are a few reminders: • Effort reports for the first half of FY 2024 will be available at the end of March and due at the end of April. • The 1RP24 timeframe is based on employee contract: o 12-month employees: 9/1/23-2/29/24 o 9-month employees: 9/16/23-2/29/24 • Monthly Effort 102 classes are now available on MyHR Learn. Reminders Unapplied Payments: Please be sure to check the Current Unapplied Payments spreadsheet regularly and contact [log in to unmask] with information on any payments that are applicable to your projects. Term Time Closeout: the process by which the sponsor determines that all applicable administrative actions and all required work of the award have been completed. Specific requirements include the submission of final performance and financial reports, processing of final payments and refunds, and any other activities included in the award terms and conditions. ######### ######### ######### ######### ######### ######### ######### ######### ######### ######### ######### ######### ######### ######### ######################################################################## Access the RESEARCHFINANCE Home Page and Archives: https://LISTSERV.IT.NORTHWESTERN.EDU/cgi-bin/wa.exe?A0=RESEARCHFINANCE Unsubscribe from the RESEARCHFINANCE List: &*TICKET_URL(RESEARCHFINANCE,SIGNOFF); ########################################################################