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Accounting for Grants
Brought to you by:Rose Ellis – Budget Director – College Operations – Ext. 3005
Cathy Nolan – Budget Accountant – College Operations – Ext. 5604Greg Holmes – Chief Financial Officer – Ext. 5516
Tasha Drake (Ext 5626), Gloria Jarvis (Ext 5605), Barb Lowder (Ext 5603)
NEW AWARD SECTION
Receive an award document? — what to do next
Send the original signed document to Grant Accounting
Grant accounting will issue a fund number
The Department then prepares a BCR
8 FUNDFund numbers are issued based on where the money is coming from.
What to include on the BCR
BUDGET TRANSFER
Purpose Date 4/2/2015
Budget Set up
CURRENT REVISED
BUDGET FOAP BUDGET Reduce Increase BUDGET DESCRIPTION
860591 681500
407000
150000 0 - 75,000+ 75,000
860591 681500
618700
150000 0 - 30,000+ 30,000
860591 681500
617500
150000 0 - 30,000+ 30,000
860591 681500
611500
150000 0 - 7,000+ 7,000
860591 681500
550600
150000 0 - 5,882+ 5,882
860591 681500
591900
150000 0 - 2,118+ 2,118
0 - + 0
- + 0
0 0 150,000 150,000
Budget Analyst Prepared By: Date
Total of Reductions and
Budget List
Budget Summary Reviewed & Date Increases =
Approved By: 150,000
BANNER J # Entered By: Date
Purpose
Revenue Account
No Roll up accounts
Total should be twice the award amount
Approval from department budget authority
Current Budget should be zero.
Grant Accounting sets up fund in Banner
Monthly
QuarterlyWeekly
Half Yearly
Departments Monitor
expenditures.PayrollICO’sCredit CardsPrinting & GraphicsPostage
Yearly
Grant accounting prepares reports to sponsors
Expenses are reviewed for compliance with grantReport prepared based on the format from sponsorAmount billed is submitted to enrollment services for proper posting to grant fund
AMENDMENTS
Departments interact with sponsors to negotiate amendments based on the need of the grant project
INCREASE IN MONEY
Send original signed document to Grant AccountingPrepare a BCR
BUDGET TRANSFER
Purpose Date
4/2/2015
Increase in award
BUDGET
CURRENT
REVISED
TYPE BUDGET FOAP BUDGET Reduce Increase BUDGETDESCRIPTION
860591 681500 407000150000 75,000 - 25,000 +
100,000
860591 681500 618700150000 30,000 - 15,000 + 45,000
860591 681500 617500150000 30,000 - 5,000 + 35,000
860591 681500 611500150000 7,000 - 5,000 + 12,000
860591 681500 550600150000 5,882 - + 5,882
860591 681500 591900150000 2,118 - + 2,118
0 - + 0
- + 0
150,000 0 50,000 200,00
0
Budget AnalystPrepared By: Date
Total of Reductions and
Budget List
Budget Summary
Reviewed & Date Increases =
Approved By: 50,000
BANNER J #Entered By: Date
Purpose
Original Budget
Total is twice the amount given in the award
Approval by department budget authority
INCREASE IN TIMESubmit the original document to Grant Accounting
Moving money between lines BUDGET TRANSFER
Purpose Date 4/2/2015
Move budget to match expenses
BUDGET
CURRENT REVISED
TYPE BUDGET FOAP BUDGET Reduce
Increase BUDGET DESCRIPTION
860591
681500
407000
150000 75,000 - + 75,000
860591
681500
618700
150000 30,000 - + 30,000
860591
681500
617500
150000 30,000 - + 30,000
860591
681500
611500
150000 7,000 - 8,000 + 15,000
860591
681500
550600
150000 5882 5,882 - + 0
860591
681500
591900
150000 2118 2,118 - + 0
0 - + 0 - + 0 - + 0
150,00
0 8,000 8,000 150,00
0
Budget Analyst
Prepared By: Date
Total of Reductions and
Budget List
Budget Summary
Reviewed & Date Increases =
Approved By: 16,000
BANNER J #
Entered By: Date
Total In reduction and Increase must equal
Approval by department budget authority
Purpose
When moving payroll, OPE must be moved also
ORGo into Expresslane and adjust the budget
Use Journal type BXP8
Some Definitions
Indirect:
Also administrative costs. The amount of money given to the college for managing the grant.
Cost share: Leveraged resources: Cash match: In Kind
These concepts are basically the same thing. They are the monies that the college has committed to the project.
Share/Match: To share the burden of expenses of a project.
Leveraged: Resources that are accumulated to continue a project after external funding has ended.
In Kind: Donated goods/services to a grant.