Processing Sponsored Program Funds: Grants and Contracts (Gx)
Note: This is an exception to the rule. There are no revenue projects for Grants and Contracts awards (award numbers that begin with a “G”). Using the Accounts Receivable module, individual sponsors are billed by OSP for expenditures as stipulated by the sponsor of the grant or contract such as: periodic invoice as expenses occur, or based on contractually defined event(s), or letter of credit draw downs, etc. OSP is responsible for collecting and processing all receipts of invoice payments from the sponsor.
|
What |
Who |
When |
How Do I |
|
Install money on the award |
OSP |
At the time an NOA is available and thereafter, as needed. |
|
|
What |
Who |
When |
How Do I |
|
Fund projects |
OSP |
After installment is complete. |
|
|
What |
Who |
When |
How Do I |
|
Budget award-project combination |
OSP |
After funding is complete. |
|
|
What |
Who |
When |
How Do I |
|
Monitor and reconcile expenditures |
Fiscal Contact and PI |
All awards should be reviewed by the tenth (10)
working day of each month for the previous month’s activity.
See Review Policy. |
FM Expenditure Detail by Project |
|
Monitor Award Budget to actual and projected expenditures |
Fiscal Contact and PI |
All awards should be reviewed by the tenth (10) working day of each month for the previous month’s activity.
|
FM Project BBA by Expenditure Type (Grants Format Tab) |
|
Monitor budget to actual and projected expenditures at the award level. Verify NOA sponsor budget to IS award budget. |
Fiscal Contact and PI |
All awards should be reviewed by the tenth (10) working day of each month for the previous month’s activity.
|
FM Award BBA by Award Manager (Grants Format Tab) |
|
What |
Who |
When |
How Do I |
|
Periodic review to make sure no transactions are posting to your projects through GL. |
Fiscal Contact and PI |
Periodically |