University of Vermont

Sponsored Project Administration - SPA

217 Waterman Building . 85 South Prospect Street . Burlington, Vermont 05405 . (802) 656-3360

revenue and cash management

Sponsored Revenue and Cash Management

This team is responsible for all billing, letter of credit drawdowns, accounts receivable, collections and accounting activities associated with sponsored projects and Principal Investigator initiated clinical trials. In FY17, the reported sponsored revenue exceeded $123 million.

Specific Functions and Responsibilities

  • Review invoicing terms and finalize contract setup for all awards in PeopleSoft;
  • Responsible for entering and posting lockbox transactions, loose checks, wire and ACH payments for sponsored projects into the Accounts Receivable module;
  • Responsible for processing payments for Principal Investigator initiated clinical trials;
  • Request and process letter of credit draws through a variety of electronic systems; prepare quarterly reconciliation cash and disbursement reports;
  • Design and maintain mechanisms for identifying and correcting both non-financial and financial information errors related to contract setup, billing and receivable items;
  • Responsible for accounts receivable maintenance tasks needed to be performed for a variety of reasons, including refunds, write-offs, transfers, sponsor overpayments and underpayments;
  • Responsible for all sponsored collections activities;
  • Responsible for all sponsored billing;
  • Communicate with various campus stakeholders as well as sponsors in regards to billing and receivable questions and issues;
  • Work with Financial Reporting and Accounting Services department and perform a variety of monthly, quarterly and annual sponsored accounting closeout activities;
  • Participate in internal and external audits and provide support for all sponsored cash management related items;
  • Work closely with other teams within SPA to provide support and subject matter expertise related to invoicing and contract terms, research and resolution of open AR balances, billing and collections processes and questions;
  • Act as a liaison between SPA and Enterprise Application Service group to develop and test various grant related PeopleSoft functions, troubleshoot system errors and issues; represent SPA during PeopleSoft upgrades and facilitate necessary system testing within SPA.

Last modified December 11 2017 04:11 PM

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