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The Financial Administration Cycle
Research Financial Management (RFM) assists PIs and staff with compliance and financial issues, coordinates university effort reporting, and sponsor audits of projects. RFM prepares and submits invoices, financial reports, and establishes the Research Initiatives and convenience accounts.
8) RFM reviews grant package, enters financial information into FAST then emails notice to PI
RFM completes chartfields, cost share and F&A setup
Email notification to PI includes:
• Chartfield strings for project
• FAST Workflow Request form to establish project workflow
• Financial Transaction Authorization form for signature authorization
• Payroll receives notification from RFM and assigns a new GEMS account code for salary.
9) PI completes FAST Workflow Request form and Financial Transaction Authorization Form
• Workflow request form goes to:
fastsecurity@admin.usf.edu
• Financial Transaction Authorization goes to:
jwhiteh@admin.usf.edu
10) PI conducts research in accordance with sponsor terms and conditions and institutional policy
11) Managing the Award Budget
• Verify approved budget by navigating in FAST to:
Commitment Control > Review Budget Activity > Budget Inquiry > Budget Detail
Business Unit = USF01
Ledger Group = CC_GM_CHD
Project: = (type applicable project number)
Click Search
Click on HYPERLINKS to view budget detail.
• Help? Contact your RFM Sr. Financial Administrator
12) Financial and Billing Reporting
• ALL financial reporting and billing is prepared and submitted by RFM in conjunction with PI and department staff.
• PI prepares and submits technical reports required by sponsor to RFM. NIH progress reports should go to Sponsored Research.
13) Award Close Out
• PI should review and sign-off on the final status reports submitted to sponsors: financial, progress and invention.
• RFM will remind PI and department staff of any outstanding encumbrances
• Overspending will be transferred to a non-restricted account
