Fiscal Aspect, Reporting and Compliance
The G&C office is the focal point of grant and contract administration. All grant/contract expenditures are processed through the G&C office. The grant accountant will verify for allowable expenditures, availability of funds, and grant/contract compliance. All expenditures should be in line with funding agency guidelines and university policies.
The G&C office will process all journal entries and direct deposits on restricted accounts. The office will process all billing invoices; draw down of funds, and all financial reporting to funding agencies. This office will monitor for compliance of all applicable regulations. An official file will be created and all cumulative records pertaining to the project will be maintained in that file. Budget changes must be submitted via budget change workflow in Oracle by the Principal Investigator/Director. If budget changes require funding agency approval, it must be channeled thru ORSP and once the budget is approved by the funding agency, it must be via budget change workflow in Oracle by the Principal Investigator/Director.
Here is how the Fiscal Aspect, Reporting and Compliance work at grants office
All personnel who will work on grants, projects, and research contracts should meet University employment requirements. G&C staff monitors grant budgets for availability of funds and grant compliance. Personnel paid from grants will be subject to the Classified Personnel Pay Plan and the same regulations and policies as other employees. Questions concerning recruitment, employment, classification, or other personnel matters should be handled within the regular university procedures by contacting the Human Resource office. To avoid any unnecessary misunderstanding, such questions should be settled prior to any agreement or commitment being made to a prospective employee. A Memorandum of Employment (MOE) must be approved before an employee can start employment.
All purchases are initiated and processed through the Oracle Purchase Order workflow. The accountant assigned to each account will review and approve each purchase. If the expense is not allowed, the requisition/purchase order will be rejected by the grant accountant with an explanation in the comments section of the workflow. Questions regarding purchasing procedures should be directed to the Materials Management office (firstname.lastname@example.org).
The travel requisition is also processed using the Oracle Purchase Order Workflow. Grant accountants will monitor travel request and approve/reject travel based on the grant terms and conditions. After the travel is completed, department must submit a travel reimbursement voucher to accounts payable for processing.
- Time & Effort Reporting
All personnel paid from sponsored projects are required to certify a Time and Effort report using the Effort Certification and Reporting Technology System (ECRT). The report is certified every six months - February and August of every year. Discrepancies sited by the Principal Investigator/Director must be corrected in a timely manner.
- Indirect Cost
The University has negotiated Indirect Cost (IDC) rates with the Federal Government and these rates are to be used in preparing all grant/contract proposals, including applications to non-federal agencies. The most current rates are available through the Office of Sponsored Project's website. IDC amounts will be automatically charged to the project based on the project’s approved rate.
- Reporting Requirements
Principal Investigator/Director is responsible and accountable for meeting the funding agency’s reporting requirements by the required due date. Some funding agencies require some of the following reports to be submitted: publications, technical, inventory, patent reports, and progress reports (crucial). Ninety (90) days before a grant terminates, the Grants & Contracts Office will notify the Principal Investigator/Director that their grant will be terminating. The grant accountant closely monitors all expenses during this period to avoid unallowable costs. All financial reports will be prepared by the grants accountant. We cannot ignore these obligations the institution has to the funding agencies.