Contract & Grant Accounting ensures good stewardship of sponsored funds and provides support to faculty and staff on post-award financial administration for externally sponsored projects received from federal, state, and local government agencies, industry sponsors, and private foundations. CGA ensures that all budgets, revenues, and expenditures for these funds are properly recorded and reported in accordance with state and federal regulations as well as University policies and procedures.
CGA works closely with the Office for Sponsored Programs to administer pre-award and post-award activities related to sponsored research, instruction, and other sponsored activities. Specific services offered by CGA are as follows:
Upon receipt of an award for a grant, contract, or cooperative agreement, the Office for Sponsored Programs formally requests that CGA establish a separate Banner fund number for the project. Expenditures incurred in the performance of the project are charged to this fund number. As part of this process, CGA establishes corresponding cost-share funds, if mandatory cost-sharing is required by the sponsored agreement.
Banner funds will be established based on the approved original budget awarded by the sponsor. Once the award set-up is complete, CGA will distribute new award information to the Lead Principal Investigator (PI) and applicable departmental personnel.
Upon receipt of an amendment or modification for a grant, contract, or cooperative agreement, OSP formally requests that CGA modify the applicable parameters in Banner. Common examples include incremental funding that increases the original budget amount and extension of the performance period end date.
In collaboration with the Lead PI and departmental personnel, CGA will monitor and review direct and indirect costs on sponsored and cost-share funds to ensure they are:
- Consistently treated
- Allowable in accordance with federal and state laws, sponsor terms and conditions, and University policies and procedures
Invoicing and Financial Reporting to Sponsors
CGA prepares invoicing and financial reporting to sponsoring agencies in accordance with the terms and conditions defined within each award. Included in this task is the performance of Federal Letter of Credit (LOC) draws and reconciliations. Generally speaking, expenditure data reported to the sponsor must align with official University accounting records.
Some sponsors may require detailed, supporting documentation of expenditures reported on invoices and financial reports. While CGA will reconcile and forward to the sponsor, it is the responsibility of the Head Principal Investigator and their department to provide the documents to CGA for review. Failure to provide the information may impact the University’s ability to be reimbursed.
Please note, the timely submission of technical and programmatic progress reports are the responsibility of the PI. If financial information is requested on the sponsor progress report format, please contact CGA for assistance in completing the financial fields.
CGA reviews cost transfer requests and if compliant, may approve the request. Faculty and staff must make every effort to allocate sponsored project costs to the appropriate fund(s) at the time the costs are initially incurred. However, sometimes it is necessary to transfer costs from one account to another. Cost transfers are allowable only in special circumstances, including Error correction, transfers between funds within the same grant, costs benefitting more than one project, clearing potential or actual overruns (to a non-sponsored or cost-share fund), and removing unallowable costs. Review the Cost Transfer Policy.
CGA is responsible for the administration and maintenance of the effort reporting system (ERS). It is the responsibility of the PI and other responsible individuals to accurately and timely complete the certifications as directed by University policy. View additional information related to effort reporting.
Accounts Receivable Collections
CGA is responsible for the collection of externally sponsored funds and recording receipts to the appropriate project fund.
In collaboration with the PI and department, CGA ensures all expenditures have been applied and are consistent with the terms of the agreement. All invoices must be paid and all final financial reports must be submitted before the grant is closed.
Various individuals/groups must work together throughout the life of an award to effectively manage sponsored projects and ensure compliance with federal and state regulations, agency requirements, award terms and conditions, and University policies and procedures.
CGA is the primary point of contact for the annual single audit required by 2 CFR Part 200, Subpart F, and program audits performed by specific sponsoring agencies. In addition, CGA assists in the annual financial statement audit and prepares the Schedule of Expenditures of Federal Awards (SEFA). Audit reports are available for review.
The Lead PI serves as the primary individual responsible for the scientific integrity and fiscal and administrative management throughout the life of an award. To support the PI and their team regarding the financial management of sponsored projects, CGA provides Banner research training, coaching for departmental administrators, and meets with key stakeholders regarding grant and contract status or the resolution of issues. View additional training and resources.