To set forth policy and establish procedures for the fiscal management and financial reporting for sponsored programs.
Sponsored programs come into being through contracts and grants negotiated by the College with outside agencies. Under normal circumstances, expenditure commitments may not be made against a specific sponsored program before:
A. A contract, grant document, or other authorizing document has been received by the College.
B. An approved Project Data Sheet has been filed with the Controller's Office and an appropriate organization number has been assigned.
The person or persons initiating any grant must receive the approval of the project prior to submission from the appropriate representatives. Proof of approval is demonstrated by attaching the Grant Approval Form to the grant award documentation. (Please refer to Policy 12-1, Grant Application Process for more detail)
The Director of Grants Management and Controller's Office are responsible for the accuracy, completeness, and integrity of the project file. The file shall include sufficient and appropriate documentation for audit purposes. The Controller's Office is also responsible for budget control to ensure that sufficient funds are available prior to any disbursements or commitment of project funds.
It shall be the responsibility of the Controller to maintain such accounts as are necessary and described by acceptable accounting standards. The Grants Accountant with the assistance of the Project Director shall also be responsible for the creation and filing of such fiscal reports as may be required by the granting agency. The Project Director shall have the primary responsibility of grant compliance for expenditures of program funds.
A. The Project Director shall contact the Director of Grants Management upon notification of a grant award or receipt of a valid contract, grant agreement, or other authorizing document.
B. The Project Director shall ensure that there is a single contract or grant identified by a specific sponsored contract or agreement code where applicable.
C. The Project Director, in cooperation with the Director of Grants Management, shall complete a Project Data Sheet in all required project information and project budget data.
D. The Project Director, appropriate Dean or next level Supervisor, Director of Grants Management, and Provost shall sign the original Project Data Sheet. After all signatures have been obtained, the Project Data Sheet and approval documentation shall be given to the Controller's Office.
E. The Project Data Sheet shall be sent to the Grants Accountant for review and to have a unique organization number established in the Chart of Accounts. This will allow for budget, revenue and expenditure entries into the College's accounting system.
F. After the organization number is established on the Project Data Sheet a copy will be furnished to the Budget Office to be entered into the College’s accounting system and, if appropriate, a unique position number will be established for payroll purposes. Additionally, appropriate information will be entered into a Grant Status spread sheet. A separate project file shall be established in the Controller's office. The project file shall contain the minimum of the Grant Approval Form, award document, a Project Data Sheet, copy of the proposal, and supporting correspondence, as required.
G. Copies of the Project Data Sheet shall be sent to the Project Director.
H. The Grants Accountant shall establish billing control as necessary and transmit invoices to sponsors, as required.
I. The Grants Accountant shall arrange as necessary for cash acquisition on behalf of sponsors, where no College invoices for reimbursement are involved.
J. Project budget and project account balance shall be provided upon request by the Grants Accountant to the Project Director. Inception to date budget, revenue, and expenditure information shall be shown in the requested report.
K. The Grants Accountant, in coordination with Project Director, shall prepare such fiscal reports, as required by the granting agencies.
L. Revisions to the budget shall be noted on a new Project Data Sheet and shall be generated by the Project Director and shall flow through the system as applicable in accordance with Items C, D and F above.
M. A Grants Status Report, prepared by the Grants Accountant, will be reviewed monthly by campus finance committee. The report will show budget, including match requirement, and cash balances on all active grants.
To download the Grant Approval Form and Project Data Sheet please visit the Sponsored Research web site.