ResearchGrants–FinancialReportForm-ONSFoundation.doc

GUIDELINES FOR PREPARING THE FINANCIAL REPORT FOR ONS FOUNDATION RESEARCH GRANT PROJECTS PURPOSE: The ONS Foundation requires all recipients of ONS Foundation research grant funding to submit a yearly financial report within 60 days of the end of the budget period and a final financial report within 60 days of completion of the project. The Foundation must document the expenditure of grant funds to be in compliance with the requirements of its annual audit. Authorized Expenses: Authorized expenses include only the items listed in the line-item budget that were “approved” by the ONS Foundation. Up to 10% of the total award may be allocated for indirect costs. FINANCIAL ACCOUNTABILITY: Official expenditure reports are required from the accounting or grants and contracts officer of the institution managing the grant. If the award was distributed to the individual Principal Investigator, she/he is responsible for submitting the report. Unexpended funds must be returned to the Foundation at the time the financial report is submitted (payable to the ONS Foundation). Financial reports should be submitted to the ONS Foundation Research Department. SUBMISSION DEADLINE AND POLICY FOR FAILURE TO SUBMIT REPORTS: End of Year Financial Reports are due within 60 days of the end of the budget period and the Final Financial Reports are due within 60 days of the completion of the project or within 60 days of the end of the funding period, whichever comes first. The investigator or the financial officer of the institution that managed the award must submit the attached financial report detailing how the award funds were expended. You may use your institution’s standard forms or the attached forms. Grant recipients who do not submit the required financial and scientific final reports will not be eligible for future Foundation grant funding until delinquent reports are received and approved. All written inquires pertaining to the financial accounting report should include t