Research Grants And ContractsWhat We Do

The Team

Research Grants O ffice r(Tam er Abdel-W ahab)

E x t. 06 73

Research Grants O ffice r(Sally M attin)

E x t. 01 59

Research Grants O ffice r(N arinder Kaur)

E x t. 01 68

Research Grant O fficer(Vacant)E x t. 03 76

F inance Assistan tM ujde Kocayig it

E x t. 01 61

Lisa PayneC redit C ontro ller

E x t. 06 21

Managem ent Accountant(T racy Banton)

E x t. 01 71

Senior M anagem ent Accountant(Lorra ine D avison)

Research Grants - Pre award

salary costingssalary costings

advice on other costs to be includedadvice on other costs to be included

advice on overheadsadvice on overheads negotiation with pharmaceutical companies on negotiation with pharmaceutical companies on

priceprice

authorisation by Lorraine Davison

IBF from Research Grants

reviewed by Business Manager

IBF original & copy to RG for

checking & logging

salary costing -

RG

non salary costs RG

salary costing?

no

yes

grant giving body call for

proposalsPre Award

Research Grants - Post Award

award letter or contract must be received and award letter or contract must be received and matched to applicationmatched to application

new grant code allocated if paper work new grant code allocated if paper work completecomplete

subjectives linked to grant codesubjectives linked to grant code

Post Award (cont)

budget set up on system to reflect awardbudget set up on system to reflect award

notification of new award sent by RGnotification of new award sent by RG

authorisation signatories obtained and copy authorisation signatories obtained and copy sent to Bought Ledgersent to Bought Ledger

start certificate signed off as appropriate, start certificate signed off as appropriate, once grant commencesonce grant commences

Reporting on Grants reports for each grant sent via email (EasGen) reports for each grant sent via email (EasGen)

or for direct access (Eas)or for direct access (Eas) two report typestwo report types

transaction - lists type of expenditure/incometransaction - lists type of expenditure/income budget - shows total budget and spend on grant budget - shows total budget and spend on grant

to dateto date notify your Finance Assistant on any Easgen & notify your Finance Assistant on any Easgen &

Eas updatesEas updates new grants will automatically be added to each new grants will automatically be added to each

grant holder’s listgrant holder’s list on return of signature on return of signature sheetsheet

Reporting to Funders

Financial statements are prepared by Research Financial statements are prepared by Research Grants on the following basis:-Grants on the following basis:- MRC - interim statement mid point and end MRC - interim statement mid point and end

of grant.of grant.final claim deadline - 3 months final claim deadline - 3 months

after after end of grantend of grant DOH -DOH - annually on calendar year. annually on calendar year.

final claim deadline - 3 mths after final claim deadline - 3 mths after end of grant end of grant

Reporting to Funders (cont.)

Wellcome - qtly claims and end of grantWellcome - qtly claims and end of grant

final claim deadline - 6 final claim deadline - 6 mths mths after end of grantafter end of grant

Others - Others - as per individual rules and as per individual rules and regulationsregulations

Other Points

final financial statement must be signed off by final financial statement must be signed off by Budget Holder before being sent to Award Budget Holder before being sent to Award Body (if applicable)Body (if applicable)

no expenditure can be committed after end of no expenditure can be committed after end of grant (invoices will still be processed after this grant (invoices will still be processed after this date)date)

only relevant expenditure can be made against only relevant expenditure can be made against grant awardgrant award

Developments DatabaseDatabase

which provideswhich provides

reports to Institute/King’s Board on grant applications/awards/overheads

reports for business planning - grant details, financial profiles over

grant life

and various other management reports

Developments (cont.) Salary Costing Software PackageSalary Costing Software Package

which provideswhich provides

full project costing if required

standard format

fast accurate & comprehensive costings

flexible, to allow for various scenarios

Departmental Grant Administration

Overall Grant Control

administrators’ need to flow funds of award over total years of grant

implications of spend against total budget

day-to-day monitoring of income/expenditure/personnel/variances

consider if action is required - if so - discuss with Grant Holder & Research Grants

Budgetary Control TipsExpenditure ensure orders raised in Department

match order with invoice

invoices - stamped, approved, coded sent to Bought Ledger, JCMB

VAT exemption rules

queries on invoices to Bought Ledger, JCMB

020 7848 3255 (Help line) boughtledger@kcl.ac.uk

Budgetary Control TipsExpenditure (cont.)

importance of accurate coding

use of journals for transfer of expenditure via Research Grants

recommend control of expenditure by spreadsheet:

list

orders.. invoices amount check to monthly report

Budgetary Control TipsGeneral Issues

all amounts over £10,000 must be authorised by two appropriate signatories

Financial Regulations contains succinct information on finance issues

Budgetary Control TipsIncome cheques to be paid to Cashiers – Room 5.33

JCMB

importance of accurate coding

BACS payments (direct to bank) - importance of accurate coding and referencing details to Funder

check income receipts against monthly reports

Budgetary Control TipsGeneral Issues

all invoices to Funders must be raised by Research Grants

all advice remittances must be sent to Cashiers - JCMB

all requests for payments outside the UK must made on green forms and sent to Spencer Pritchard ext. 3290 at Cashiers, JCMB - normally takes 7 days for transactions to be processed

Other Financial Considerations

Capital Expenditure

James Wrigg, Procurement Director, KCL 020 7848 3445, james.wrigg@kcl.ac.uk

web addresses of KCL Procurement

www.kcl.ac.uk/ip/marymussett/purchase/col-polintro.html

www.kcl.ac.uk/ip/marymussett/purchase/MPDPintro.html

Capital Expenditure (cont.) KCL Financial Regulations

up to £2,000 - 1 or 2 quotations as appropriate

between £2,001 and £3,000 - 2 quotations

between £10,000 and £30,000 - 3 quotations

over £30,000 formal tendering

funding bodies currently reviewing procurement policy

Capital Expenditure (cont.)

MRC need to have invoice(s) for

capital equipment over £25,000

Wellcome insist on authorisation by

James Wrigg for items over £1,000

MRC & Wellcome

Capital Expenditure (cont.)

computer equipment < 25,000€

(£15,530) 3 years

computer equipment > 25,000€ 5 years

all other capital – over 5 years

EU Regulations - depreciation

Resource Allocation

introduced 1st August 2000introduced 1st August 2000

54% overheads received on grants flow direct 54% overheads received on grants flow direct to Head of Departmentto Head of Department

provides real control for Head of Department provides real control for Head of Department over their budgetsover their budgets

Head of Department has discretion on whether Head of Department has discretion on whether to accept a grant award where optimum level to accept a grant award where optimum level of overheads has not been obtainedof overheads has not been obtained

KCL Enterprises Ltd Consultancy to advise on commercial

contracts-Intellectual Property Rightsnegotiation on Contract PricingTeam - Malcolm Sims, Susan Jacobs, Paul Labbett

before approaching Team, discuss with Senior Management

Accountant

The EndThe End