Multiple-year awards require that records for all years be retained until project completion and audit. The University is required to maintain official records for a period of three years following final payment by the government, until the federal direct cost audit is completed for the fiscal year in which the project expires, or three years from submission of a technical report as stated in the NSF policy. Academic departments may be called upon to provide additional or missing supporting documentation requested by federal auditors. In this regard departmental records, while not official records, should be maintained until notification from ORA that an audit has been completed. In the absence of such notification, departments should contact ORA with specific questions related to sponsored project records.
Regulations differ for grants and contracts.
Departments receiving awards should be familiar with the appropriate guidelines governing the federal grant or contract. Contact ORA for copies of any referenced regulations. The Office of Research Administration is responsible for calculating the allocation of an incentive program called Research Reserve Fund. Accounts will be set up in the 0-16xxx ledger. Allocations are completed in the fall of each fiscal year, contingent upon the availability of University funds.