Sponsored Programs prepares the financial status report (FSR) in accordance with the Uniform Guidance (2 CFR 200). (This section was previously part of the A-110 circular). The FSR guidelines detail the complete and timely submission of financial reports and other such closeout procedures for federal grants and contracts. It covers (in part): Cash Management/Drawdown of funds, etc., Record Retention, Program Income, Procurement Standards, Property Standards, Cost Sharing, Financial Reporting.
Failure to adhere to these reporting requirements in connection with a specific grant or contract may result in the withholding by the federal agency of new awards campus-wide or the suspension of payments for costs incurred by the University on other projects funded by the agency.