Funded Research Digest (FReD) – Due Dates and Deliverables

  1. Introduction / Purpose

    A new section, Due Dates and Deliverables (also known as the “FReD Calendar”) has been added to the FReD. It provides a listing of deliverables and their associated due dates for the project, e.g. financial reports, invoices, progress reports, etc. With this information recorded in the system, we will be able to automate and monitor billing and sub-granting processes, improving their timeliness and accuracy.

    In addition to the time-savings we anticipate from the eventual automation of some accounting and sub-granting tasks, our aim is to reduce the risk of non-payment due to an inability to adhere to scheduled deliverables.

    For now, only the RIS version of the FReD will display this information; the FReD Calendar will not yet be available on the web version, i.e. via My Research On Line (MROL).

    Please be reminded that all financial reporting and invoicing to sponsors is performed by the Research Accounting and Audit Office within the Division of the Vice-President Research and Innovation.

  2. Roll Out Schedule

    The FReD Calendar will be populated for all FReDs with a fund end date of April 1, 2018 or later. Some FReDs with earlier fund end dates may also contain this information.

    The FReD Calendar will be rolled out in phases based on the “industry classification” code of the sponsor tied to the FReD, starting on the evening of July 13, 2017, as identified in the table below.

    Roll Out Group Date Calendar Data Will Start to Show on FReD Industry Classification (of Sponsor Tied to FReD)
    Group 1 July 13, 2017 Associations, Federations, Municipal Government, Internal Customers, Provincial Centres of Excellence, Ontario Prov Gov’t, Other Prov Gov’t, University of Toronto
    Group 2 July 27, 2017 Research Institutes, Societies, United States Gov’t
    Group 3 August 10, 2017 Education, Hospitals, Other
    Group 4 August 24, 2017 Corporations, Foundations, International Orgs
    Group 5 September 7, 2017 Federal Government
  3. Sample FReD with Due Dates and Deliverables

    The following is a sample standard FReD, with the usual header in the upper section. The new section appears in the red box. Please click on the reference dot to view the related definition.

    FReD Sample Image
     

    A The Due Dates and Deliverables section has been added to the last page of the FReD.

     

    B The Payment Method section describes how the Sponsor will pay UofT, when the payment or invoice is expected or due, and across what period the sponsor payment applies.

    Ref. on Sample FReD Field Description
    C Total Approved Total amount expected from the sponsor, as indicated on the sponsor agreement (in payment’s currency).
    D Currency Currency of payment to be received from the sponsor.
    E Hold back Percentage of the total award that will remain unpaid by the sponsor until a condition or instance required by the sponsor has occurred.
    F Total in-kind contribution from the sponsor Canadian dollar value of in-kind matching that meets ALL of the following criteria:
    • Non-cash but has financial value
    • Contribution from an external institution or industry partner
    • Required by sponsor to be included on the financial report

     

    G The applicable payment method(s) will display with their related schedule. On the sample FReD, above, the payment method is “Fixed Instalment” (sponsor will send fixed instalments, no invoicing required).

    The associated schedule (calendar) for the Fixed Instalment payment method includes the following fields:

    Ref. on Sample FReD Field Description
    H Payment Type Classification of payment activity and includes the following types:
    • Interim: interval payments to be made by the sponsor
    • Final: the last payment to be made by the sponsor
    • Final/Holdback: the last payment to be made by the sponsor and represents the amount held back
    • Off Cycle: payment to be made by the sponsor between a regular interval

    I Amount Expected Amount expected (in original currency).
    J Due Date Date the sponsor payment is due at UofT.

    There are seven possible Payment Methods:

    Payment Method Description Schedule Layout
    Fixed Instalment Sponsor has pre-defined payment schedule and instalment amounts As on sample FReD, above.
    Fixed Instalment, with Deliverable(s) Sponsor has pre-defined payment schedule and instalment amounts,
    and requires submission of document(s) and/or completion of task(s)
    (see deliverables section, K, below for required tasks).
    Click here for sample
    Invoiced – Fixed Sponsor has pre-defined payment schedule and instalment amounts, and payment will be prompted by the submission of an invoice by by VPRI Research Accounting and Audit office. Click here for sample
    Invoiced – Fixed, with Deliverables Sponsor has pre-defined payment schedule and instalment amounts, and payment will be prompted by the submission of an invoice by VPRI Research Accounting and Audit office,
    and
    requires submission of document(s) and/or completion of task(s)
    (see deliverables section, K, below for required tasks).
    Click here for sample
    Invoiced – Cost Recovery Sponsor’s payment will be prompted by the submission of an invoice by VPRI Research Accounting and Audit office on a defined schedule, and the invoice amount will be based on actual expenses incurred during a defined period. Click here for sample
    Invoiced – Cost Recovery, with Deliverables Sponsor’s payment will be prompted by the submission of an invoice by VPRI Research Accounting and Audit office on a defined schedule, and the invoice amount will be based on actual expenses incurred during a defined period, and requires submission of document(s) and/or completion of task(s) (see deliverables section, K, below for required tasks). Click here for sample
    Deliverables only Sponsor’s payment will be prompted only by submission of document(s) and/or completion a task(s). The schedules in the related Deliverables apply (see K, below) .

     

    K Deliverables
    The Deliverables section includes reports, activities, milestones, and/or tasks required by the sponsor. Depending on the payment method, the deliverable may be tied to a payment.

    The following are the standard deliverables:

     

    LFinancial Reporting:
    Research financial report prepared by the VPRI Research Accounting and Audit office and submitted to the sponsor
    Audit:
    Audit to be conducted by the sponsor’s auditors and coordinated by the VPRI Research Accounting and Audit office
    Progress Report:
    Progress reports to be prepared and submitted by the PI as per sponsor requirements.

    Other non-standard sponsor-specific or research project-specific deliverables/milestones may also appear in this section, e.g. Scientific Report.

    A schedule will display for each required deliverable, containing the following fields:

    Item Field / Title Description
    M Report Type Classification of reporting activity and includes the following types:

    • Interim: interval reports required by the sponsor
    • Final: the last report required by the sponsor
    • Final/Holdback: the last report required by the sponsor and represents, in part or in full, amount held back by the sponsor
    • Off Cycle: report required by the sponsor between a regular interval

    N Period Scope Start The first day of the period to be covered by this report type
    O Period Scope End The last day of the period to be covered by this report type
    P Due Date Indicates when the deliverable is due at the sponsor

    The following note will appear above the schedule if the deliverable is tied to the payment:
    This deliverable is tied to the payment.

Please contact ris.help@utoronto.ca if you have any questions about this or any other section of the Funded Research Digest (FReD).

A - Due Dates and Deliverables B - Payment Methods C - Total Approved D - Currency E - Hold Back F - Total in-kind contribution from the sponsor G - Fixed Installment H - Payment Type I - Amount Expected J - Due Date K - Deliverables L - Financial Reporting M - Report Type N - Period Scope Start O - Period Scope End P - Due Date

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