Know the terms of your award
Make sure you understand:
- allowable and non-allowable costs
- other budget restrictions
- your sponsor’s reporting requirements
- FLC requirements for spending grant award money
Does your grant include any cash or in-kind matching requirements and documentation? You may need the In-Kind Matching Form.
Time and Effort Reporting
The Federal Government requires that time distribution records be maintained for all employees whose salaries are paid in whole or in part with federal funds. The salaries and wages paid with grant program funds need to be supported by actual hours worked. Twice each year the FLC Senior Accountant will send the PI a time and effort certification for any faculty and staff that worked on the federal grant that did not submit timesheets to payroll/HR. It is important that the PI understands the purpose of time and effort reporting and ensures that costs of compensation are allowable and reasonable for the service rendered on the grant. Services are considered reasonable if compensation for employees is consistent with that paid for similar work in the other activities of the non-Federal entity.