ORSP is responsible for all invoicing and receiving payments on grants and contracts administered through ORSP.
The account representative determines the type of reimbursement rate and then invoices accordingly:
- Cost reimbursable grants/contracts are usually invoiced monthly based on actual expenditures.
- Fixed Price Contracts are invoiced on a predetermined schedule but are not based on actual expenditures.
The ORSP accounting staff take the following steps once invoices are generated:
- The billing period is checked to be sure that it is within the period of the grant/contract.
- Fringe, IDC, G&A, Fees, etc. are checked to see if they calculated properly.
- The billed-to-date total is checked to the total budget to insure that the grant/contract is not in an overrun situation.
All invoices are approved, signed and sent to the sponsor.