Grant Reconciliation Presented by Loreesa Tenove

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Grant ReconciliationPresented by Loreesa
Tenove
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University Best Practices

• Use a central filing system to record, compile
  and track the grants key documents.
• Reconcile grants monthly
• Check that there are funds in the account
• Check that expenses are eligible
• Check for appropriate expenditure code
• Confirm the expense belongs to your project
• Supporting documentation be kept for audit
  purposes for 7 years.
• Progress Reports to agencies be done in a timely
  manner as required
• End dates are monitored

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Monthly Reconciliation!

• What to do first?
• Gather the documentation
• Invoices, packing slips, indents, low dollar
  purchases, journals, on-line statements, master
  card statements, purchase order requisition,
  waybills, etc.

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Monthly Reconciliation!

• Next?
• Gather the documentation
• Invoices, packing slips, indents, low dollar
  purchases, journals, on-line statements, master
  card statements, purchase order requisition,
  waybills etc.
• Print eTRAC Expenditure Details Report
• Create reports 5 business days after month-end

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Monthly Reconciliation!

• eTRAC
• http//www.rso.ualberta.ca/etrac.cfm

R E S E A R C H S E R V I C E S O F F I C E
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Monthly Reconciliation!

• Project list of all the grants to which you have
  access

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Monthly Reconciliation!

• Expenditure Details Report

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Monthly Reconciliation!

• Salary Details Report

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Monthly Reconciliation!

• Then?
• Gather the documentation
• Invoices, packing slips, indents, low dollar
  purchases, journals, on-line statements, master
  card statements, purchase order requisition,
  waybills etc.
• Print eTRAC Expenditure Details Report
• Create reports 5 business days after month-end
• Reconciling checklist

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RECONCILING GRANT MANAGEMENT CHECKLIST Speed
Code or Project _______________
Title____________________ P I
____________________
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Reconciling Checklist
RECONCILING GRANT MANAGEMENT CHECKLIST SPEEDCOD
E ______________ PROJECT
________________ TITLE ______________________
__ P.I._____________________
MONTH _________________
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Reconciling Checklist
RECONCILING GRANT MANAGEMENT CHECKLIST SPEEDCOD
E ______________ PROJECT
________________ TITLE ______________________
__ P.I._____________________
MONTH _________________
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Reconciling Checklist
RECONCILING GRANT MANAGEMENT CHECKLIST SPEEDCOD
E ______________ PROJECT
________________ TITLE ______________________
__ P.I._____________________
MONTH _________________
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Reconciling Checklist
RECONCILING GRANT MANAGEMENT CHECKLIST SPEEDCOD
E ______________ PROJECT
________________ TITLE ______________________
__ P.I._____________________
MONTH _________________
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Reconciling Checklist
RECONCILING GRANT MANAGEMENT CHECKLIST SPEEDCOD
E ______________ PROJECT
________________ TITLE ______________________
__ P.I._____________________
MONTH _________________
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Reconciling Checklist
RECONCILING GRANT MANAGEMENT CHECKLIST SPEEDCOD
E ______________ PROJECT
________________ TITLE ______________________
__ P.I._____________________
MONTH _________________
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Reconciling Checklist
RECONCILING GRANT MANAGEMENT CHECKLIST SPEEDCOD
E ______________ PROJECT
________________ TITLE ______________________
__ P.I._____________________
MONTH _________________
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Reconciling Checklist
RECONCILING GRANT MANAGEMENT CHECKLIST SPEEDCOD
E ______________ PROJECT
________________ TITLE ______________________
__ P.I._____________________
MONTH _________________
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Final steps!

• When you have verified all the charges in the
  account
• Attach the supporting documentation to the
  financial report.
• File in a centralized location.

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CONTACT INFORMATION

• Your first point of contact should always be the
  Research Facilitation Office for your Faculty.
• Detailed information can be found on the Research
  Services Webpage at
• www.rso.ualberta.ca
• Contact RFO

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Thank You!

• Please take time to complete the evaluation!