The Division of Accounting & Financial Services provides accounting and financial report services to programs funded by external organizations. This Division incorporates such programs into the University system and permits these programs to use service areas of the University.

The University accepts awards and contracts from outside agencies according to policies and procedures available from the Division of Sponsored Programs.

1. Receipt and Disbursement of Funds
1. Receipt of Funds
1. The amount of funds allocated for the project or fiscal period will be set forth in the grant or contract award.
2. Funds are obtained from the federal agency in accordance with the terms and conditions of the grant award.
3. All funds are deposited immediately upon receipt in an account maintained in our Current Restricted Fund.
4. Income is accounted separate from receipts and is based upon disbursements for the current month.
5. Unused funds at the end of the project period are carried forward for use in the succeeding year if consistent with the guidelines of the granting agency.

2. Disbursement of Funds
1. All expenditures and encumbrances must conform to the approved budget and must not exceed the amount in the notification of the grant award.
2. Personnel expenditures are made in accordance with the institutional rate for an established position. Each personnel position has a set salary amount and employee benefit rate approved by the granting agency as a part of total personnel funds.
3. Non-personnel expenditures are made in compliance with state and institutional purchasing regulations. The types of expenditures in this area are operating expenses, travel and capital outlay. All expenditures in this category must be approved by the project director and supported by sufficient documentation (invoices, travel vouchers, etc).
4. Disbursements are charged against the current restricted accounts and checks are written on either the vendor or payroll account.
5. Supply items are obtained from central stores or contracted office supply vendor at an advantageous price to the program.
6. Grants and contracts with a duration of one year are permitted to use the Universities’ purchasing card program.

3. The cash account into which all deposits are made is reconciled on a monthly basis by an employee who has no direct control or responsibility over cash deposits or disbursements.

2. Recording and Reporting of Grant Expenditures
1. Recording of Grant Expenditures
1. Each grant is assigned a specific organization number and all financial transactions related to the grant are charged to that organization number.
2. Encumbrances are recorded for all purchases of materials, equipment and out of state travel requests. Personnel and purchasing card transactions are not encumbered.

2. Internal Reporting of Grant Expenditures
1. The program director will print a monthly account statement. Each print out is cumulative and includes detail transactions for the current month.
2. Each program director will have on line access to the Banner System permitting daily account balance and transaction information.

3. External Reporting of Grant Expenditures
1. External reporting is a shared responsibility between the Division of Accounting & Financial Services and the project director. The program report and the financial report are coordinated to meet time requirements.

The General Accounting Office is located in the Jones Building, Room 213. The office hours are from 8:00 a.m. to 5:00 p.m. Monday through Friday.

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