Who is authorized to incur expenses on a fund?
How do I know if an expense is allowable?
Can I move expenses from one fund to another?
What are the reporting requirements of my program?
What if I need more time to finish program objectives?
Can I spend money before or after the project period?
What happens to a fund surplus or deficit?
Where do I get more information?
When can I begin spending?
Signature cards are sent to Project Directors after ORD submits a Pre-Award Form to the Accounting Office. Spending begins after signature cards are completed and returned to the Accounting office.
Who is authorized to incur expenses on a fund?
Project Directors determine who is authorized to incur expenses on a fund. Some Directors require more than one signature; others limit the authorization at certain dollar levels. One restriction is that the responsible person must be the same person signing payroll documents. Another restriction is that project directors requesting reimbursement for themselves must acquire the signature of their immediate supervisor.
How do I know if an expense is allowable?
All expenses should be listed in the budget narrative submitted with the grant proposal. Refer first to the contract. If you're not sure about a particular expense contact your grant accountant. All expenses must help achieve the objectives of the program. Depending upon the type of expense, prior written approval from the sponsor may be necessary before the purchase is completed.
How do I know which forms to use for different types of expenses?
If you do not find the answer to your question on this site, department secretaries are usually a good source of information or contact your grant accountant.
How do I hire support staff?
Contact the Employment/Affirmative Action Office at 7-3430. They will assist you in completing the paperwork needed for the particular position being filled. The action needed depends upon the position and classification being filled: a new employee vs. a reassigned employee; an EMU employee vs. an independent contractor; etc.
There is a charge on my grant fund statement that I do not recognize or understand. Who should I call for an explanation? What information should I have ready to discuss?
Call your grant accountant. Have the fund number, description, reference, account code, and dollar amount ready to discuss.
Can I move expenses from one fund to another?
If an expense is posted to the wrong fund, submit an Expense Transfer Form to request a correction. All corrections should be requested before the end of the project period. The Expense Transfer Form will ask you to provide information about the incorrect expense: when it was posted; where it should be moved to; why the transfer is needed; transaction reference; etc. The responsible person of the account incurring the expense must sign the form.
What are Open Commitments?
Open Commitments (also known as encumbrances) are budgeting tools used to set aside funds for expenses that will eventually be incurred. The use of Open Commitments provide a better idea of the budget available at any time of the project period. Open Commitments are set up by submitting a Requisition to the Purchasing Department to create a Purchase Order and an Open Commitment. Open Commitments are usually liquidated (removed) as expenses are incurred. Contact the Accounts Payable Office if clarification is needed.
I have several programs going on at once. How can I keep track of them all?
Keep a separate file for each program. We have distinguished each program by assigning individual fund numbers. Keep a summary of the programs available at all times listing the project periods and due dates of financial reports and technical reports.
What are the reporting requirements of my program?
The contract should specify the types and due dates of all reports. There are generally two types of reports: Financial reports and Technical (also known as Progress) reports. The Accounting Office prepares financial reports with Project Director concurrence. Technical reports are prepared by Project Directors without Accounting involvement (unless financial information is required in the report). If the contract does not specify reporting requirements, contact the sponsor immediately. Failure to meet reporting requirements may jeopardize current and future funding.
What if I need more time to finish program objectives?
Contact the Office of Research Development (ORD) before the end of the project period to request a no-cost time extension of the project period. We must have written approval from the sponsor before the project ends in order to extend the end date.
Can I spend money before or after the project period?
Not without prior written approval from the sponsor. Contact the sponsor through ORD to request a no-cost time extension of the project period.
What happens to a fund surplus or deficit?
Depending on the terms of the award, surplus amounts are either returned to the sponsor or transferred to a discretionary fund determined by the Project Director. Fund deficits, if they are inappropriate for the award and cannot be billed to the sponsor, are the responsibility of the Project Director.
Will this program be audited?
Depending on the program, sponsors generally reserve the right to audit a project up to seven years after the final financial report is accepted. In addition, the University has an annual audit performed by an independent accounting firm.
How do I close out my fund?
Submit a request to the Accounting Office. Make sure all expenses are recorded appropriately and that all reports have been submitted and accepted.
Where do I get more information?
Contact the Grants Accounting Office at 7-6679.
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Ypsilanti, MI, USA 48197. University
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