The financial reporting of project activity is handled by the accountants at the Office of Research Administration, and for some projects, by accountants at the Systems Office level.
The SF425 financial report is used for LOC (Letter of Credit) type projects.
Reports for reimbursable/billable type projects are comprised of invoices or statements of expenditures.
Principal investigators generally need only to be concerned about the submission of progress reports and other technical report. It is possible that some sponsors may request that financial and technical reports be submitted together. In the event they do, the accountants and principal investigators coordinate the submission of their respective reports.