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.