Understanding the Research Fund Lifecycle: An Administrators Guide to Success (Part B)

This two-part workshop is designed to empower you in understanding the research fund lifecycle. From the initial search for funding to the final reporting, the workshop will provide you with insights and resources needed to effectively manage research funding. Whether you’re a novice looking to understand the basics or a seasoned pro seeking to enhance your knowledge, this workshop will help you navigate the complexities of research funding journey with confidence. 

Part A Focus: Pre-Award (Jan. 29, 2025)

• Top resources for finding funding
• Who is eligible? Navigating Principal Investigator eligibility criteria
• Mastering the application process: key elements

Part B Focus: Post-Award (Feb. 6, 2025)

• Pro-tips for research procurement
• Financial finesse for fund management
• Wrapping up: Successfully closing a fund
• Conquering compliance: The importance of Internal Audit

Learning Outcomes

1. Understand the connections between the phases of the research funding lifecycle and how these phases impact each other​
2. Describe the key tasks of the research administrator in each phase of the lifecycle
3. Understand the roles and support provided by the different offices involved in pre- and post-award research administration
4. Recognize key documents, regulations, and procedures involvedinthe fund lifecycle

Key Takeaways

1. Engage Central Procurement Services early – at least 6 months before awarding the contract to a supplier - for purchases over CAD $100,000. Use the tools and resources available on the Procurement Services website to ensure compliance.
2. Prior to closing a fund, ensure you reconcile the account, coordinate with departments to update/release PO (Purchase Order) reserves, and update FIS (Financial Information System) accounts in HRIS (Human Resources Information System) records.
3. Research Oversight & Compliance (ROCO) staff should submit financial reports to the sponsor on behalf of the University of Toronto to ensure proper completion of financial reports.
4. Remember the four guiding principles on use of Tri-Agency grant funds. Grant expenditures must:
   1. be a direct cost of research for which the funds were awarded, with benefits directly attributable to the grant;
   2. not be provided by the administering institution to their research personnel;
   3. be effective and economical; and
   4. not result in personal gain for members of the grant team