|
Financial Research Administration
Financial Research Administration (FRA) is responsible for financial management of Cornell University's research funds, developing cost models and rates, and recording and depreciating the university's capital assets. FRA works closely with the University Budget Office and the Office of Sponsored Programs.
Areas of Responsibility:
Sponsored Financial Services
Oversees finances associated with sponsored projects, usually university research, approximating $400 million per year. SFS's role begins once a project is awarded and continues until all reporting is completed. SFS activity includes account management, financial compliance review, sponsor billing, and financial reporting. SFS also conducts regular training on sponsored fund management.
Cost Analysis
Develops and manages several cost models in support of university activities, such as employee benefit pools, cost allocation model, facilities and administrative (F&A) cost recovery, and accessory instruction. Another important responsibility is the development and defense of the university's F&A cost proposal to the federal government. The group also assists in the space inventory and plan confirmation processes, and reviews service facility rates.
Capital Assets 
Maintains the university's capital asset records, working closely with units throughout the university to process thousands of updates each year. This data is used to develop the depreciation expense for the financial statements and the F&A cost calculation. Capital Assets is also responsible for government asset reporting, and in that capacity works closely with federal agencies.
|
