Accounting & Finance
Learn More About the Accounting & Finance Office
What is the Accounting & Finance Office?
The Accounting and Finance Office manages all pre-intervention, auditing, and invoicing transactions for all active projects in the R&D Center. The services provided by the finance office include all aspects concerning the verification of adherence in the usage of federal, state, and private funding, processing of payments to suppliers and sub-awardees, year closing reports, single and financial audit processes, indirect cost recovery, and invoicing for all kind of sponsored projects. The office was managed by a Finance Officer II who supervised the entire office with a seventeen- member staff. A Finance Officer I assisted the finance supervisor in day-to-day operations. A team of twelve accountants remained assigned to the pre-intervention and invoicing operations, six each. An accounts receivables clerk followed-up with open invoices to procure the center received payments for all invoiced activities. An administrative assistant provided support to the entire office.
What is the Accounting
& Finance Office?
The Accounting and Finance Office manages all pre-intervention, auditing, and invoicing transactions for all active projects in the R&D Center. The services provided by the finance office include all aspects concerning the verification of adherence in the usage of federal, state, and private funding, processing of payments to suppliers and sub-awardees, year closing reports, single and financial audit processes, indirect cost recovery, and invoicing for all kind of sponsored projects. The office was managed by a Finance Officer II who supervised the entire office with a seventeen- member staff. A Finance Officer I assisted the finance supervisor in day-to-day operations. A team of twelve accountants remained assigned to the pre-intervention and invoicing operations, six each. An accounts receivables clerk followed-up with open invoices to procure the center received payments for all invoiced activities. An administrative assistant provided support to the entire office.
Services
Service Contracts
The role of the Accounting & Finance Office in the processing of service contracts is:
- To certify availability of funds and encumber those funds prior to the signature of the contract by the R&D Director.
- After the contract is signed by R&D Director and the Chancellor, the final contract is filed. The Accounting & Finance Office will then proceed with payments according to the terms of the contract.
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- The PI must certify the work was performed and request the corresponding payment be processed.
- In the case of purchases made under contract, the PI must submit a Solicitud y Comprobante de Desembolso: Disbursement Request Form to process the payment.
Stipends
This service is requested by researchers for students or professors participating in certain projects. The stipends are used depending on what is stipulated in the project proposal.
Billings to Sponsor
Generally, billings and payments for federal awards are handled through an Award, contract and cooperative agreements. The expenditures are reported to the agency and reimbursement of those funds is requested via the billing process. This is a manual process and is managed by the R&D Center Office of Accounting & Finance. The frequency of billings is dependent upon the volume of activity occurring between UPRM and the sponsor. Payments are assigned to the correct project accounts by the UPR financial reporting accounting system. In rare occasions, a federal sponsor requires a manual bill as specified in the Award Notice, or the contract.
However, many other types of sponsors require manual billings, including sponsors who have issued a subcontract/subagreement to UPRM on federal or other flow-through funding. All billing activity will be handled through the Office of Accounting & Finance.
Travel
Prior to the trip and the related expenses are incurred, a travel order authorization will be issued. This authorization is a requirement for the payment or reimbursement of travel expenses to be issued. Certification No. 65, 2020-2021, “Reglamento de Gastos de Viaje de la Universidad de Puerto Rico” of the UPR Board of Trustees governs travel expenses at UPR. Thus, all travel arrangements must be made according to these regulations.
Financial Reporting
Process invoices for payment so that the requests are generated through a purchase order.
Dashboard
Contact Information
Phone: (787) 832-4040 Ext. 5201
Email Preintervención: preintervencioncid@uprm.edu
Email Finanzas: finanzascid@uprm.edu
Hours: 7:30 am – 4:00 pm (Monday through Friday)
Location: R&D Administration Building