Research Finance

The two Research Finance Portfolio Teams actively engage with clients University-wide to support the post-award management of sponsored awards and ensure compliance with sponsor requirements and Harvard policies. The teams:

• Employ a risk based approach to analyze expenditures for allowability, allocability, and reasonableness, in accordance with sponsor terms
• Prepare and submit sponsor financial reports and invoices
• Provide collection support for outstanding receivables
• Actively engage with clients and provide post-award subject matter expertise
• Monitor sponsor due dates and manage deadlines to facilitate timely closeout of awards

The Research Finance Operations Team serves a quality assurance function to ensure that the financial terms and conditions of each award are accurately recorded and monitored according to sponsor requirements.  In doing so, the team ensures that automated processes for standardized invoicing and financial reporting (financial deliverables) are operating effectively to expedite reimbursement from sponsors.  

• Reviews all sponsor notices and interprets the financial terms and conditions
• Schedules all financial reports and invoices in GMAS
• Processes all automated standard financial deliverables
• Provides collection support for all expired accounts receivable

The Cash Management Team provides University-wide support for all sponsored payments, including the federal letters of credit. The team

• Identifies sponsor payments (checks, wire, ACH)
• Creates receipts and apply payments to outstanding receivables
• Coordinates weekly and monthly letter of credit drawdowns
• Files quarterly letter of credit reports to federal agencies
• Calculates and issues annual interest payments to the federal government