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Financial Management and Accounting

The admin staff serves as a liaison between the PRC and UT Accounting and OSP for post-award grant policy and account issues. 

Effort Certification: Effort Reporting is required to provide assurance to sponsors that salaries charged to sponsored projects are reasonable in relation to the work performed and faculty and staff have met their commitments to sponsored projects.  Effort certification is required bi-annually.  The PRC staff can assist you with verifying effort performed and compensated on grant projects.

Account reconciliation: All account expenses are verified and reconciled against UT’s accounting system to verify transactions.  Faculty are encouraged to review their financial reports to ensure there are no discrepancies.

Financial management:  Financial management services include new account setup, review of allowable costs on grant accounts, and financial reporting. 

The PRC works with UT OSP to set up new grant accounts.  If a grant is expected to be awarded in the near future and an account is needed sooner, please contact the admin staff to discuss the possibility of requesting a pre-award credit.

Expenses on grant accounts must be approved by the grant sponsor before being made.  The PRC works with UT Accounting to verify costs and ensure all costs are allowable on grant accounts.

Quarterly financial reports are sent to faculty for review of account expenses, to assist with budget forecasting and reallocations, and planning for fund liquidation by grant end dates.  Faculty should prepare a plan within six months of the end date. 

The PRC assists with the submission of financial reports to sponsors and requesting no-cost extensions for grant projects.  Please note, extensions should be requested within 90 days of grant end date.

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    University of Texas at Austin
    305 E. 23rd Street / RLP 2.602
    Mail Stop G1800
    Austin, Texas 78712-1699