All new research projects require their own research account/activity. Once the project has met all the conditions including an executed contract, REB approval (if applicable), etc. the process to open an activity can started.
Each activity is assigned a unique number and provided to the Principal Investigator when created. To open the activity, you need to complete a Research Activity Request Form (RARF) and provide your Sr. RFA the research budget, award letter, contract, and REB approval (if applicable). The Principal Investigator will provide their approval on the RARF. The research team will receive an email confirmation when the activity is ready for use.
Please include the following information when submitting the forms:
Principal Investigators are responsible for managing their research activities. As the account holders, they are held accountable for approving all payments. Once the funds are awarded and sent to St. Michael’s Hospital, the account holder assumes responsibility for using the funds for their research project. Funding must always comply with the guidelines and policies within the research expense policy.
Account holders (i.e. Principal investigators) are the primary signing authorizers for their research projects. While they may approve all research expenses, they can also delegate signing authority to their research staff (i.e. Research Manager). Proof of authorization along with supporting documentation must always be provided to Research Finance for audit purposes. To assign authorization please see Delegating Signing Authority Form. Signing Authority can be delegated to your staff. However, different amounts are assigned to the following positions:
All funds related to the research project are deposited by the Research Finance team. If the sponsor would like to send the funds directly via wire transfer, please contact email@example.com.
Some of your research projects may have a research contract which stipulates a payment agreement and schedule. The PI’s research team is responsible for creating these invoices unless discussed otherwise with their Research Financial Analyst. Please keep your Research Financial Analyst informed of the invoicing deliverables.
Some awards may flow through SMH research to collaborators. In these cases, contracts must be set up and executed before payments can be sent. Account Holders can complete a requisition form, attaching the contract and approving the transaction with their original signature.
While principal investigators are awarded funding for their project, St. Michael’s Hospital takes responsibility to ensure the funds are utilized for research project purposes only. All funds must comply with the research policies as seen here.
All newly appointed principal investigators may open activities. If you are not an appointed PI, you are unable to open your own activity. In these instances, supervisors may be the account holders for you.
The hospital has stewardship responsibility to complete the financial reports for research projects. Depending on the contract details, your research financial analyst will assist with the completion of reports assuring that the PI understands how the funds were handled and spend. All reports must be signed off by the account holder/PI.
Each grant has monthly financial statements available on MyBusiness. The account holder along with other delegated staff can download the reports at the ending of the month. To access your transaction listing for your activity or view balances, please visit MyBusiness and login.