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Office of the Controller

Sponsored Award Reporting

Financial reporting is how the University of South Carolina confirms to sponsors that we have used their resources appropriately and in accordance with the terms and conditions of the award agreement. Timely and accurate reporting is critical to maintaining good relationships with sponsors and ensuring future funding for the Principal Investigator (PI), the department, and the University.

All financial reports are prepared based on the expenses that have been posted in PeopleSoft to the sponsored award.

Reporting requirements vary by award. PIs, and departmental grant support should review each award to determine ALL reporting requirements.

Progress & Technical Reports Fiscal (Financial) Reports Equipment, Property (including Intellectual) Reports & Relinquishing Statements
  • PI prepares & coordinates with SAM as necessary
  • However, if report has any financial data or figures – MUST be coordinated with PAA in GFM
  • PAA in GFM prepares and submits
  • Any sponsor questions regarding reporting (or billing) should be directed to your PAA
  • PAA in GFM prepares and submits & coordinates with SAM as necessary
  • Any sponsor questions regarding reports should be directed to your PAA
  • Relinquishing statements are submitted by SAM

In most cases, the Post Award Accountant (PAA) will prepare financial reports without direct involvement from the department.  Departments should not submit financial reports unless requested to do so by Grants and Funds Management (GFM). 

If a report requires a level of detail or backup documentation that the PAA does not have access to, GFM will request assistance from the department in completing the report.

If the sponsor notifies the department and/or PI that a financial report is due, please notify your PAA immediately. Delinquent reports may cause a sponsor to:

  • postpone action on further awards, continuations or extensions until all reports are received
  • withhold payment of invoices
  • suspend the award
  • request return of awarded funds
  • deny future funding

 Helpful Hints: 

The Grant Dashboard is a web-based report in the Finance Intranet that provides PIs and grant support staff with official sponsored project balances, as well as links to underlying transaction details. 

The submission of any financial reports to a sponsor should be completed by your GFM PAA to ensure the financial information provided reported aligns with the University general ledger.

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