Funding & Financial Management

Consider your research practices

  What habits and skills can you use or build to ensure thorough and accurate record-keeping?

  What are some management and reporting requirements associated with your current funding?

  How often do you review and audit the financial record?

 

Responsibly managing research funding supports us to be accountable to our fellow researchers, non-academic partners, sponsors and the public — it is central to maintaining trust and confidence in our research.

Misrepresenting one’s achievements or research in a grant application or related documents, or mismanaging grant funding are serious breaches of research integrity. Researchers found liable for funding or financial misconduct may face suspension, have grants terminated or become ineligible to apply for future funding.

Each researcher must ensure that the entrusted fund is used effectively and economically for the designated purpose for which it was awarded. 

 

BEST PRACTICES

Submit accurate and complete grant applications

Funding agencies, sponsors and research institutions take into consideration a variety of criteria when they determine how best to award funding, with each criterion having various impacts on the decisions made. Researchers are responsible for accurately representing their work and providing complete information in their grant applications to safeguard the integrity of this process.

 

Learn which grant administration responsibilities apply to you

Funding expenditures are often subject to the granting agency or sponsor’s financial management policy. In some cases, conditions on activities and expenditure of funds are subject to legislation (e.g., NIH). Learning about the accounting procedures, the criteria of what constitutes eligible and ineligible expenditures, the reporting timelines and your other administrative responsibilities is the first important step in meeting applicable requirements.

Seek support and resources

Managing research funds can be complex and overwhelming. UBC’s service and support units, such as the Office of Research Services and Research Finance, can help you to appropriately manage research funding. Identifying and accessing available support and resources could make the learning curve of financial management much smoother.

 

 

CHALLENGES

Pressure from a competitive funding environment

The pressure to publish, of funding competitions, and for prestige can make it tempting to embellish research and accomplishments in grant proposals and relevant documents. However, doing so violates scholarly integrity and can jeopardize future funding and research success, as well as compromise career opportunities for yourself or others involved in the deception. Submitting accurate and complete grant proposals safeguards integrity now while also paving the way for your future success.

Confusion over different award requirements

Each funding agency, sponsor and research institution may have different processes, accountability mechanisms and reporting requirements for grant recipients. It could be especially challenging to determine all relevant requirements when we are engaged in collaborative, international and/or multi-institutional research projects. Take time to familiarize yourself with your shared administrative responsibilities and to discuss them with your collaborators.

Not planning enough time to apply for and manage grant funding

When pressed for time, researchers may forget to replace placeholder texts or images in grant applications, overlook the details of transactions posted in the grant accounts and inappropriately manage research funds. Proactively scheduling time to review your grant applications and grant accounts can help you ensure accuracy and completeness.

 

RESOURCES

 

Helpful Links

 

Relevant Policies

 

 

Continue to Research Policies

References

The developed content is adapted from the following: