The Research Foundation is a non-profit education corporation that assists the University in the identification of opportunities, procurement, use and disposition of funds from the federal, state, and municipal government and other sources to support all research and sponsored programs at the University. All grant applications name the Research Foundation and the College concerned as joint grantees. The responsibilities of the Research Foundation have been set forth in an agreement with the University which deals with various aspects of research, training and other projects throughout the colleges. In general, the RF provides administrative functions such as controlling and accounting for expenditures, preparing periodic fiscal reports for Principal Investigators and funding agencies, providing banking services and managing cash flow. All expenditures are monitored for availability of funds and for compliance with the Research Foundation policies and sponsor requirements. Auditable accounts are maintained and periodic expenditure reports and sponsor vouchers are prepared.
The general functions of the Research Foundation include:
- Establishing policies, procedures and controls governing all expenditures;
- Assuring timely receipt of and proper fiscal stewardship for sponsor funds including the PSC-CUNY Faculty Research Program;
- In cooperation with the Colleges, negotiating University-wide F&A costs and employee benefit rates;
- In cooperation with the Colleges, ensuring compliance with federal requirements such as effort reporting, cost sharing and service centers;
- Assistance in Audit compliance and Resolution as well as Closeout Activity.