ASRSP Areas of Focus: ASRSP priorities for the second quarter of FY2024 include continued focus on cash application, invoicing, financial reporting, and award activations. Requests to close awards for the remainder of Q2 will be considered on a case-by-case basis.
Federal Government Status: On January 18, Congress approved another continuing resolution which extends FY2023 funding levels until March 1 and March 8. Health and Human Services is among the agencies with the later deadline. ASRSP leadership will continue to monitor the situation.
- NIH Salary Cap: The FY2023 NIH salary cap of $212,100 remains in effect per the continuing resolution.
- FY2024 Mileage Rate: The IRS released the mileage rate for reimbursement for “costs of operating an automobile for business, charitable, medical or moving purposes.” The rate of $.67/mile for business use is in effect for calendar year 2024.
NIH New Year’s Resolutions: NIH issued a brief notice with suggestions for a successful 2024. Among them, an announcement that closeout reminder emails will be sent 90 days after the project period end date, “to promote timely closeout.” The 90-day closeout reminders will be in addition to the existing ones sent 10, 120, and 150 days after (90, 120, and 150-day reminders will be sent only if one or more required report remains outstanding).
Rejected NIH Final Financial Reports: As previously mentioned, NIH is now sending monthly reminders to recipients with Final Federal Financial Reports in rejected status. FFRs could be rejected for a discrepancy of just one penny when compared to Payment Management System (the accounting and payment system for federal awards). Resolving the discrepancies is a responsibility of ASRSP, however even immaterial issues require time and effort.
The most common reason for a discrepancy is timing: charges and cash draws that occur after an FFR is submitted could lead to a discrepancy and a rejection. ASRSP staff reviews all rejected FFRs and contacts department administrators if action is needed.
The best preventive practice is for recipients to spend awards according to the approved budget and post charges timely so that internal reports, and therefore sponsor reports, are accurate. The closeout process begins 90 days prior to the award end date and FFRs for federal awards are typically due 120 days after the award end date.