The Sponsored Project Process
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.