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Sponsored Programs Policies...
Financial Reporting on Sponsored Projects
College Hall 108
(202) 250-2453
(202) 651-5299
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Policy statement and procedures Adopted May 2009
The University will follow the requirements of the Office of Management and Budget (OMB) the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, known as the Uniform Guidance or 2 CFR 200 and other applicable federal regulations with respect to financial reporting. Uniform Guidance Subpart D §200.327-.329 set forth procedures for monitoring and reporting the grantee’s financial and program performance and list the standard reporting forms.
The University has both financial and nonfinancial reporting requirements to federal agencies when it receives a grant award or federal subgrant. Agencies use timely and accurate reporting as one measure of grant monitoring. Sponsors often require interim and final technical and financial reports. Also, some agencies have moved to withhold future funding or freeze accounts if any reports, financial or technical, have not been submitted by the deadline. Therefore, it is important that the institution understand and comply with all mandatory reporting requirements.
The Finance Office is responsible for managing the external financial reporting and invoicing requirements of sponsored research projects according to the terms of the grant award document. To do this, all members of the community who are responsible for administering sponsored projects will review and verify expenses on their accounts.
As part of the annual performance report to the sponsor, the PI is responsible for reporting technical program outcomes as well as financial information. This policy does not cover technical performance reporting (see Office of Sponsored Programs for guidance in this area). The financial component of the report should be prepared by the grant accountant. After these financials are reviewed and approved by the PI, the Office of Sponsored Programs has responsibility for transmission of these reports to the sponsor, often in conjunction with submittal of the technical report. The U.S. Department of Education requires specific financial reports to be included in their annual performance reports. See Appendix C for detailed procedures.
External Resources
Internal Information
Appendix A: Quarterly Financial Reporting for NSF Appendix B: Quarterly Financial Reporting for DHHS Appendix C: Annual Financial Reporting for U.S. Department of Education
Origination date: May 2009 Last amended date: May 2020Next review date:
Explore Gallaudet University's guidelines for quarterly financial reporting on NSF-sponsored projects. Access essential resources and templates for accurate reporting.
Guideline Type: Policy
Explore Gallaudet University's guidelines for annual financial reporting on U.S. Department of Education sponsored projects. Ensure compliance and transparency today!
Finance
(202) 651-5711