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Compliance Certification Report
Comprehensive Standards 3.10.5

Last Updated August 2, 2004
(static edition)

Comprehensive Standards 3.10.5:

The institution maintains financial control over externally funded or sponsored research and programs.

The Institution Certifies Compliance: Yes

Compliance report completed by: Audit Team 8

Statement of Rationale for Judgment of Compliance:

The University of Memphis has policies and procedures [1] for both pre-award and post-award financial management of externally funded research and programs, and an appropriate organizational structure to assist in the administration and review of these programs. The Tennessee Department of State Audit annually reviews university internal controls and tests for compliance with applicable federal laws and regulations. [2]

The Office of Research Support Services coordinates the proposal process through the final award, which includes submission and negotiations, budget development and review. [3] Grants and Contracts Accounting (reporting through the Assistant Vice President for Finance) processes awards, including setting up approved budgets and ensuring that subsequent revisions are appropriate. [4] Grants and Contracts Accounting also routinely monitors all sponsor accounts to ensure charges are accumulated appropriately and billed in a timely manner, and they work closely with project directors to assist in interpreting financial data and reporting to sponsors in the required manner.

The university maintains an approved facilities and administrative cost rate agreement with the U.S. Department of Health and Human Services (DHHS). [5] The current agreement is dated December 12, 2002 and is in effect until amended.

The University of Memphis Foundation accepts, processes, and manages private support to the University. The Foundation is a separate legal entity and is a not-for-profit tax exempt corporation with an independent board of trustees. [6] It is audited by an independent accounting firm annually. [7] The relationship between the Foundation and the university is managed in accordance with TBR policy 4:01:07:02 [8] and the agreement between the two entities. [6]

Relevant Organizational Unit(s):

Vice President for Business and Finance; Vice Provost for Research

Supporting Documentation and Evidence:

[1] UofM Policies and Procedures Related to Sponsored Projects
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[2] UofM audit report for fiscal years ending June 30, 2003
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[3] Office of Research Support Services
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[4] Grants and Contracts Accounting
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[5] Facilities & Administration (F&A) Rate Agreement, December 10, 2002
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Agreement Between Memphis State University and Memphis State University Foundation

The UofM Foundation Charter of Incorporation, amended June 28, 1994

UofM Foundation Policies and Procedures

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[7] UofM Foundation Audit Report for fiscal year ending June 30, 2003
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[8] TBR Policy 4:01:07:02 Foundations
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