R.A.C.C.
 

CFRA BODY OF KNOWLEDGE

Annotated with Resources
Edition of 07/27/2016

Note:   Resources listed below are provided as examples and have been obtained through topic-specific web searches. The list is not intended to be a comprehensive representation of content included on the exam and inclusion on the list doesn’t reflect RACC support of the materials or indicate verification of accuracy of the information.  Links to original sources for funding sources, statutory requirements, grant regulations and common electronic proposal systems are not provided since they are easily assessable with simple web searches.  Candidates for the CFRA exam are encouraged to explore additional resources related to the exam’s content outline.

 

I.

Governing Framework

A.

Statutory Requirements

1.

FOIA

2.

Unrelated Business Income Tax (UBIT)

3.

Non-delinquency on federal Link 1 and Link 2

4.

IRS classification of institution

5.

Salary cap  Link 1 and Link 2

6.

Other

B.

Regulations

1.

Administrative Requirements (2 CFR Part 215) Link 1 and Link 2

2.

Cost Principles (2 CFR Part 220)

3.

Audit Guidelines (OMB Circular A-133 and Uniform Guidance)

4.

Federal Acquisition Regulations (mandatory clauses for cost reimbursable contracts, clauses based on institution types)
Link 1 and Link 2 and Link 3

5.

Other Link 1 and Link 2

C.

Agency Policies

1.

DHHS Link 1 and Link 2

2.

NSF

3.

DOD

4.

Other

D.

Awards

1.

Types and characteristics of sponsors Link 1 and Link 2

a.

Federal, state and local government

b.

Nonprofit

c.

For profit business and industry Link 1 and Link 2

d.

International entity

e.

Sponsor responsibilities

2.

Forms of Federal Assistance (discretionary, mandatory, block, formula) and Link 1 and link 2

3.

Specific Award Terms and Conditions

4.

Budget flexibility and budget restrictions (cost reimbursable, fixed price, task order, deliverable-based)
Link 1 and Link 2 and Link 3 and Link 4

5.

Period of performance and pre-award costs Link 1 and Link 2

6.

Incremental funding and limitation of costs Link 1 and Link 2 and Link 3

7.

Other

E.

Institutional Policies and Procedures (policy development and implementation)

II.

Project Costs

A.

Types of funding

B.

Budget Structure

1.

Role of the budget and characteristics of effective budgets

2.

Budget models, templates and forms (Modular, Line item, SF424 form, Grants.gov) Link 1 and Link 2 and Link 3

3.

Understanding sponsors’ budget guidelines Link 1 and Link 2

4.

Types, definitions and uses of budget categories

5.

Budget templates and forms

6.

Calculations of budget costs

a.

Institutional base salaries Link 1 and Link 2 and Link3

b.

Effort and calendar months

c.

Fringe benefits

d.

F&A costs

e.

Other

7.

Budget justification

8.

Major functions of Institution A-21

9.

Revised budgets and rebudget of costs Link 1 and Link 2

10.

Other

C.

Composition of Costs

1.

Total Project Costs

2.

Direct Costs

a.

Salaries and wages (federal requirements for employee compensation on sponsored projects, institutional base salary, post-differential allowance for employees based abroad, percentage of effort/calendar months)

b.

Equipment (definition)

c.

Travel (per diem, FLY US)

d.

Recharge or cost centers

e.

Other project-related costs

3.

F&A Costs Link 1 and Link 2

a.

Development of F&A rate proposal (cognizant audit agency) Link 1 and Link 2 and Link 3

b.

Methods for developing F&A rate (simplified method, direct allocation, multiple allocation, F&A cost rate proposal method)
Link 1 and Link 2

c.

Types of F&A costs (predetermined, provisional, fixed, final) Link 1 and Link 2

d.

Components of F&A costs (formula)

e.

F&A cost base types (MTDC, TDC, S&W) Link 1 and Link 2

f.

Waiver of F&A costs

g.

Major Project/Unlike Circumstances (criteria and application)

4.

Fringe Benefit rates (calculation, composition)

D.

Allocation of Costs

E.

Budgets for specific funding programs

1.

Clinical Trial Costing (per patient budgets & billing)

2.

Training grant budgets (stipend levels, budget restrictions for trainee expenses)

3.

Other

F.


Cost Sharing (cash & in-kind contributions; criteria, types, documentation)

G.

Program Income

H.

Project expenses

1.

Pre-award Costs

2.

Non-cancelable costs Link 1 and Link 2

3.

Cost Overruns & Residuals

4.

Disallowed expenses

A.

“20 C.F.R. Part 667 Prohibitions”

B.

Alcoholic beverages

C.

Bad debts

D.

Contingency provisions

E.

Donations and contributions

F.

Entertainment

G.

Fines and penalties

H.

Fundraising and investment management costs

I.

Goods and services for personal use

J.

Lobbying

K.

Organization costs

L.

Selling and marketing

M.

Start-up costs

5.

Accelerated expenses

6.

Other

I.

Expanded authorities

III.

Reporting

A.

Institutional Award Reporting (reports on awards and expenditures, NSF/national rankings, benchmarking)

B.

Cost Recovery

1.

Invoicing (deliverable based billing, scheduled payments, cost reimbursable, fixed price, billing practices)

2.

Letter of credit and other electronic methods for drawing down funds

3.

Nonpayment

4.

Payments

C.

Financial Reports

1.

Reporting Periods

2.

Federal Financial Reports (FFR) Link 1 and Link 2

3.

Relinquishment Statement

4.

Authorized Signatory & Certification Statement Link 1 and Link 2

5.

Other

D.

Institutional Reports

1.

Income Statement Link 1 and Link 2

2.

Balance Sheet

3.

Other

E.

Closeout

1.

Process for closing awards

2.

Components of final financial report and required documentation

3.

Unliquidated obligations

4.

Carryover of unobligated funds

5.

Records retention

6.

Property Reports

7.

Other

F.

Subcontracting plan (small disadvantaged business goals)

G.

F&A Cost recovery distribution

IV.

Fiscal Compliance

A.

Financial Management systems

1.

Characteristics and Impacts of Financial Systems Implementation Link 1 and Link 2 and Link 3

2.

Cost Accounting Standards

3.

Effort certification and reporting

4.

Cost transfers

5.

Equipment

B.

Cash Management

1.

Optimizing Revenue

2.

Accounts Receivable, Accounts Payable, Collections Link 1 and Link 2

C.

Financial Risk Assessment and Management

1.

Cost and Fund Accounting

2.

Ethics, Accountability and Delegations of Authority

3.

Fraud and Bad Debt Link 1 and Link 2

4.

Performance Metrics

5.

Award Type

6.

Financial Conflict of Interest (FCOI)

D.

Expense Monitoring (shadow systems, committed expenses, unexpended balance, electronic tools)

E.

Procurement

1.

Bid process, vendor profiles and procurement standards Link 1 and Link 2

2.

Procurement card management & monitoring Link 1 and Link 2

F.

Subreceipient Monitoring (invoice review, verification of expenses, site visits)

G.

Clinical Trial Management Systems Link 1 and Link 2

H.

Audits (internal and external)

1.

Audit preparation (roles, responsibilities, expectations, involved parties) Link 1 and Link 2 and Link 3

2.

Audit findings and corrective actions , including OIG (Office of Inspector General) Link 1 and Link 2

I.

Fiscal compliance from sponsor’s perspective (how gov’t monitors spending—certificate of accuracy of F&A costs (DOD), certificate of costing pricing data (contracts $100,000), report of current expenditure and projected expenses (DOE))
Link 1 and Link 2


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