帝王会所

Subrecipient invoice monitoring refers to the process of tracking and managing invoices and receipts issued by subrecipients or subcontractors in the context of grant funding, contracts, or similar financial arrangements. Subrecipients are organizations or individuals who receive funding from a primary grant recipient or contractor to perform specific tasks or services. is a crucial process for organizations that distribute grant funds or contracts to subrecipients, which are typically other organizations or individuals responsible for carrying out specific tasks or services. The primary recipient (the organization or entity awarding the grant or contract, in this case, 帝王会所) must ensure that the subrecipients are using the funds in compliance with the agreed-upon terms and conditions of the agreement as well as related state and/or federal regulations.

Here are the key components and steps involved in subrecipient invoice monitoring:

1. Subrecipient Agreements: Before any work begins, the primary recipient (grant recipient or contractor) should have a clear agreement in place with the subrecipient. This agreement should outline the scope of work, budget, deliverables, and invoicing procedures.
2. Invoice Submission: Subrecipients should submit invoices for the work they've completed in accordance with the terms of the agreement. Invoices should include details such as the services performed, the period covered, cost incurred, and the amount requested. OU has designed an invoice template to assist with the capturing essential data that is required of all subrecipient agreements with 帝王会所.
3. Review and Compliance Check: The primary recipient must review the subrecipient's invoices to ensure compliance with any regulatory or contractual requirements. This includes verifying that expenses are allowable under the funding source's guidelines and that supporting documentation, such as receipts, is provided where necessary or as required.
4. Timely Processing: Invoices should be processed in a timely manner to prevent delays in payment and maintain a good working relationship with subrecipients.
5. Tracking and Documentation: Maintain a comprehensive record of all subrecipient invoices, payments, and any supporting documentation. This documentation is essential for audit purposes and for ensuring that funds are used in accordance with the grant or contract terms.
6. Payment Approval: After verifying the invoices and ensuring compliance, the primary recipient approves payment to the subrecipient. This may involve obtaining necessary approvals within the organization.
7. Payment Disbursement: Make the payment to the subrecipient promptly. The payment method can vary, but it's usually done through electronic funds transfer or checks by Accounts Payable.
8. Reporting: Generate reports that provide an overview of subrecipient invoice processing and payments. These reports can be used to monitor expenditures, track budget utilization, and assess the performance of subrecipients. OBI has several reporting options available.
9. Auditing: Periodically, and as required by regulations or contracts, conduct audits or compliance reviews of the subrecipient's financial transactions to ensure that funds are being used as intended.
10. Communication: Maintain open lines of communication with subrecipients. If there are issues with invoices or any aspect of the subrecipient's performance, address them promptly and professionally. Get ORSP and Grants Accounting involved early when you suspect or find you have issues with the subrecipient.
11. Documentation Retention: Retain all relevant documents, including invoices, receipts, contracts, and communications, for the specified retention period, as required by the grant or contract terms or relevant state and/or federal regulations.

OU has developed a to assist departments with verifying invoice accuracy prior to approval and submission for payment. Additional subaward training and resources can be found here.

Questions? Contact finance.grants@ohio.edu.