Risk Monitoring and Compliance
- At least annually, SPS will review subrecipient’s financial stability, financial processes, and controls as follows:
- A-133 entities: Subrecipients that expend $750,000 or more of federal funds annually are subject to Uniform Guidance (UG). SPS relies on the accuracy and veracity of subrecipient data submitted on the Federal Demonstration Project database for this purpose (Harverster). Upon review of Harvester data, if the subrecipient discloses findings related to the management of sponsored awards receipt of an unfavorable audit report, SPS will confirm that the subrecipient has taken appropriate and timely corrective action. SPS will issue a management decision letter stating if additional terms and conditions are part of the subrecipient agreement as a means to mitigate risk.
- Subrecipients not subject to A-133 or the Uniform Guidance audit requirements: Annual audited financial statements or responses to questions regarding financial status and systems to be completed as part of the Subrecipient Profile Questionnaire will be requested and reviewed by SPS.
- SPS will review subrecipient compliance certifications annually to ensure they are current in accordance with the applicable regulations.
Closeout of Subawards
SPS, in collaboration with department administrators and/or PI, will begin subaward closeout actions immediately following conclusion of the subaward period of performance. Subawards will be processed for closeout and formally closed within a 60-day time period, unless SPS grants the department an extension. A subaward may not be formally closed until all of the following closeout requirements have been met:
- Final review of costs charged to UConn Health and final close-out of all commitments, accrued costs, or payables
- Receipt of final invoice from subrecipient and Subrecipient Release and Certification Form
- Receipt of all required deliverables as specified in the subaward, patent/invention documentation, and equipment reports. Final verification of technical completion will be indicated by the PI’s signature and date on the final invoice