nmtdonor210.3.17

 

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What Happens and When:

you have an idea . . .

  • Research and Economic Development periodically sends e-mail notices announcing Requests for Proposals from various funding agencies or you can access agency websites for funding opportunities. Sometimes, you will be contacted directly to submit a proposal. Research and Economic Development, Brown Hall Room 200C, 835-5646

that turns into a proposal . . .

  • The Restricted Funds Department can assist researchers in budgeting, pricing, and charging sponsored agreements , preparing agency certifications, and answering agency questions regarding NMIMT’s overhead and fringe benefit rates. Principal Investigators field questions regarding proposed direct cost elements.
  • Check NMIMT guidelines carefully for cost sharing and matching requirements since you need to obtain internal approval before routing can occur. In addition, if you have a provision for a subrecipient refer to the Subrecipient Policy since there is a certain level of documentation that you must acquire and maintain in order to justify your selection.
  • The Proposal Flow Chart shows how proposals are routed.

which gets funded . . .

  • Restricted Funds Department will review the award document to ascertain that funding agency terms and conditions are acceptable to NMIMT.

and becomes a project . . .

Once a fully executed agreement is obtained, the RFD will provide account management services to the principal investigator. Services include:

  • setting up accounts
  • approving financial transactions to ensure their compliance with agency provisions, federal and state regulations
  • invoicing and ensuring NMIMT receives payments in accordance with the terms of the award
  • processing/approving budget revisions ensuring such requests are in compliance with agency guidelines
  • processing/approving corrections
  • initiating an award to a subrecipient
  • preparation of required financial reports
  • preparation of close-out documentation (except for a final technical report which is the responsibility of the PI)
  • oversight of activities concerning external and internal audits.

and by the way . . .

It is not over until the funding agency closes out the award on their side, which could take several years! Please familiarize yourself with our research audit survival guide.

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