Processing Sponsored Program Funds: Grants and Contracts (Gx)

1.    Deposit to revenue project.  (Not Applicable – see below)

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.

2. Install (allocate funds to) Awards (GA)

What 

Who

When

How  Do I?

Install money on the award

OSP

At the time a Contract or Notice of Award (NOA) is available and thereafter, as needed.

 

3. Fund Projects (GA)

What 

Who

When

How  Do I?

Fund projects

OSP

After installment is complete.

 

4. Create Budgets (GA)

What 

Who

When

How  Do I?

Budget award-project combination

OSP

After funding is complete.

 

5. Manage Accounts (GL & GA)

What 

Who

When

How  Do I?

Monitor and reconcile expenditures

Fiscal Contact and PI

All projects should be reviewed by the 15th calendar of each month for the previous month’s activity, or as detailed in an alternate schedule approved by the University Comptroller and the Chief Audit Executive.

See Review Policy.

See GA Review Procedure.

For more information see Reconciliation Class.

Recon@

Or

PI Expenditure Detail Report worksheet in the Discoverer workbook GA_PI Reconciliation Reports

Monitor Award Budget to actual and projected expenditures

Fiscal Contact and PI

All projects should be reviewed by the 15th calendar of each month for the previous month’s activity, or as detailed in an alternate schedule approved by the University Comptroller and the Chief Audit Executive.

See Review Policy.

See GA Review Procedure.

For more information see Reconciliation Class.

Recon@

Or

PI Award Summary worksheet in the Discoverer workbook GA_PI Analysis Reports

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 15th calendar of each month for the previous month’s activity.

See Review Policy.

See GA Review Procedure.

For more information see Reconciliation Class.

Discoverer workbook GA_PI Reconciliation Reports

Verify and Troubleshoot as Needed (GL & GA)

What 

Who

When

How Do I

Periodic review to make sure no expenditure transactions are posting to your projects through GL.

Fiscal Contact and PI

Periodically

GL Only Project Activity Detail worksheet in the Discoverer workbook GL_Revenue Reconciliation Reports