16 Research Finance

In this se​​ction:

16.1 Meet the Team
16.2 Service statement of the Research Finance team
16.3 How long does it typically take to complete a standard research finance task?
16.4 What are the research finance responsibilities of researchers?
16.5 What happens when I get a new grants?
16.6 What happens if my grant is supported by matching funding from internal or external partner sources?
16.7 How can I spend research funding?
16.8 How do I manage grant funding?
16.9 How do I montior, and close, a grant?

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16.1 Meet the Team

Mark Leslie, Manager, Research Finance

Mark Leslie provides leadership and direction to the research finance team at Laurier, overseeing the compliance and financial reporting functions for all externally funded research grants. Contact Information

E: mleslie@wlu.ca

Nicole Gerry, Financial Analyst, Research (last names A-G)

The Research Finance Accountant provides support to grant holders through financial reporting, compliance, advising, and financial analysis.

The Research Finance Accountant directly supports grant holders whose last names begin with A–G.

Contact Information E: ngerry@wlu.ca

Xaiver Munoz Financial Analyst, Research (last names H-Q)

Xavier directly supports grant holders whose last names begin with H–Q.

Contact Information

E: xmunoz@wlu.ca

Josh Ritter, Financial Analyst, Research (last names R-Z)

The Financial Analyst, Research directly supports grant holders whose last names begin with R–Z.

Contact Information

E: jritter@wlu.ca
T: 519.884.0710 x2695

Vacant, Research Finance Compliance Officer

Contact Information


16.2 Service statement of the Research Finance team

Research Finance has a team of Research Financial Analysts and Research Compliance Officers who are dedicated to providing support and advice in a timely and professional manner to enable them to manage their funds effectively and efficiently.  The Team also collaborates with Faculties and departments across the Laurier community. 

New Accounts and Closing Accounts 

  • Set up new research index codes in Millennium.
  • Notify the Principal Investigator (PI) of the new index code and the key terms and conditions. 
  • Close research index codes when all activity is complete.


  • Deposit cheques and ensure research revenue is recorded.
  • Identify wire transfers and record revenue.
  • Invoice sponsors and follow up for collection.


  • Review expenditures for accuracy, proper authorization, and compliance with funding agencies’ and Laurier’s policies and guidelines.
  • Record requested, eligible transfers of expenses between research grants.
  • Record and allocate overhead in accordance with Laurier’s policies.
  • Liaise with funding agency representatives on issues of eligibility and compliance, and seek clarification of funding agencies’ specific guidelines.

Reporting to Sponsors and Stakeholders 

  • Prepare and submit all financial reports to sponsors as required.
  • ​Address sponsor and stakeholder financial queries.
  • Coordinate financial audits for research grants.

Surplus and Deficit Management 

  • Review research grants for misallocated or missing revenue and deficits, work with the PIs to resolve the deficits.
  • Provide notification to PI of large surplus balances when grant end date is imminent.
  • Suspend grants/contracts as directed by the Office of Research Services when certifications have expired (human, animal, bio-hazard).
  • Advise Faculty Senior Administration Officers of any issues that are not being addressed in a timely manner by researchers (i.e. over expended accounts, sign off on financial reports, late submission of progress/technical reports).

Transfers of Funds Between Eligible Institutions 

  • Ensure the appropriate agreement (e.g. Transfer of Funds Agreement) is in place.
  • Transfer the funds once appropriate agreement is in place.

Fielding Routine Queries 

  • Provide information related to routine grant activity and address issues related to invoicing, reimbursements, payroll and other research transactions.


  • Provide related education and training for researchers, project managers and administration.

16.3 ​How long does it typically take to complete a standard research finance task?

​​Support Typ​e ​
​Target Timeline
Provide index code for new research grants Ten business days after all grant documentation received by Research Finance
​Research Finance Compliance review of out-of-pocket expense claims and shoplaurier requisitions ​Three business days once received by Research Finance, assuming no issues
​Training in financial administration of grant funds
​Ten business days after grant index code set up for new grant holders (researcher contacted by email), or upon request
​Respond to researcher inquiries ​Three business days
​Prepare transfer or invoicing agreements to other institutions ​Ten business days

16.4 What are the research finance responsibilities of researchers?

As a faculty member you are responsible for:

  • Operating in compliance with the relevant funding agency guidelines and requirements as well as all applicable university policies and guidelines.
  • Charging research expenditures to the correct research index code.
  • Providing written authorization for all expenditures charged to your research projects (PI or authorized Delegate).
  • Monitoring and reviewing all financial transactions in Millennium Fast on a regular basis and communicate any discrepancies to their Research Financial Analyst.
  • Submitting accurate and complete expense claims and P-Card expense reports in a timely manner. 
  • Providing timely resolution of all deficits resulting from over-expenditures, expenses deemed ineligible by the sponsor or failure to comply with the rules and regulations of the funding agency and/or university policies and guidelines.
  • Reviewing and signing financial reports in a timely manner.
  • Preparing and submitting progress and technical reports; if they contain financial information, the appropriate Research Finance Analyst will complete the financial reporting component.
  • Notifying Research Financial Analyst when specified project milestones are met for those grants/contracts that require invoices at specified milestones.
  • Contacting Research Financial Analyst to request an extension on the term of a grant.
  • Ensuring that individuals with delegated signing authority understand and comply with university and funding agency requirements.
  • Providing timely response to Research Finance inquiries and requests.
  • Providing assistance to Research Finance during internal or external audits of research grants financial information.

16.5 What happens when I get a new grants?

Research Grant Set-up includes reviewing grant details, preparing the grant Index Code, Millennium system access, signing authorities, policies, and training.

16.6 What happens if my grant is supported by matching funding from internal or external partner sources?

If your grant comes with matching funding from external partners, you must have funding agreements from each partner.  Funding from different sources will be managed in separate index codes and cannot be combined in index codes with granting agency funds.   

If your grant comes with contributions from Laurier units, contact your Research Facilitator and they will advise on how best to proceed with the internal contribution.  Generally, internal funds will be managed in separate index codes.  

16.7 How do I spend research funds?

Spending Research Dollars provides guidance to help researchers spend grant funds including expense eligibility, payment methods, submitting claims for reimbursement and/or approval, and hiring under a research grant.

16.8 How do manage my grant funding? 

Managing the grant includes topics related to monitoring and administering the research grant such as monitoring transactions, internal transfers, invoicing, and transfers of grant funds to other institutions.

16.9 How do I report on, and close, a grant?

Reporting and Closing the Grant includes guidance on annual and final grant reporting and the administration of grant deficits and residual balances at the end of the grant.