Grant Accounting 201

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Grant Accounting 201

• I have the grant, now what!?

Presented by Grants and Contracts Financial
Services (GCFS)
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Introduction

• We plan to cover
• Overview of funding
• Whats the PIs role?
• Whats Grants and Contracts Financial Services
  role?
• Expenditure Compliance
• Reading PS Financial Reports
• Gotchas!
• Summary

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Vocabulary

• Department ID Org. Code
• Account Expenditure Code
• PI Principal Investigator
• FA (or indirect costs)
• PeopleSoft (PS) System Finance System or
  General Ledger
• also PS Payroll Student Admin. (will specify)

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Overview of funding

• The funds are under JMUs Control
• Must be good stewards of public funds
• No pool of money. Most grants are paid on a
  reimbursement basis.

• Everyone wants to add a regulation!
• Specific grant instructions JMU policies and
  procedures state regulations federal
  regulations federal law.

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Whats the PIs Role?

• Person of many hats
• Researcher, Manager, Accountant.
• Has DIRECT responsibility for Grant
• Must complete responsibilities of grant
• Must work within approved budget
• Must insure Matching is met
• Maintain Adequate Documentation
• May delegate workload

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Whats Grants and Contracts Financial
Services Role?

• Establish Financial Framework
• PS Dept ID(s) Budgets
• Maintain auditable file
• Post-award compliance officers for the University
• Billing/Collection from Sponsors
• Prepare Financial Reports
• Timely close-out of grant

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Procurement Rules

• Same for Grants as other University funds
• (Unless stated in Award)

• May actually be more restrictive
• Must relate to grant work
• No Membership fees, subscriptions

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Expenditures (General)

• EVa must be used
• PCards must be used/reconciled
• Forms
• Accounting Voucher
• Travel Authorization (over 500)
• Travel Reimbursement Voucher
• Agency Transfer Voucher (ATV)

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Expenditures (Travel)

• VA State (JMU) rules apply
• (Unless specifically addressed in the award)

• Personal Car Mileage
• 0.325/mile 300 miles or less round trip
• 0.19 if over 300 mile round trip
• Unless stated in Grant
• Unless motor pool certifies that no car is
  available
• No car repair bills, speeding tickets, parking
  tickets, etc.!

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Expenditures (Travel) contd

• Hotel Expense Limits
• Still follow state guidelines
• With permission, 150 of allowed maximum
• Per Diem expenses
• Meals, Phone, tips, laundry, etc.
• Reduced by supplied meals
• No receipt necessary

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Expenditures (Travel) contd

• Receipts required for
• Hotel (Original, with 0 balance)
• Parking
• Public transportation (cab, shuttle, bus)
• Business Meals (Itemized)
• Documentation for group expenses
• List with individual signatures is good
• Foreign flights (Coach Class)
• Must be on US flag bearer!
• Foreign Travel authorization required

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Expenditures (Business Meals)

• Must follow per diem per person
• Must have at least one non-JMU employee
• No Alcohol
• Itemized receipt
• Written justification (description of purpose).

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Expenditures (Payroll)

• Employee vs. Contractor
• Has bearing on taxes withheld
• What control exists over person?
• See 20 questions on Payroll Website
• If in doubt, contact Payroll
• Must follow immigration rules
• Contact Gina Kudrav in International Prog. with
  questions

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Expenditures (Payroll) contd

• Forms
• PAR Form/Student Employment Contract
• Accounting Voucher (Contractor)
• FICA taken with all PAR forms
• Student Employment Contract
• Use Instructional Employment Account Code on
  new PAR/Student Contract
• FICA normally not withheld
• Summer my change with each paycheck
• Employers FICA adds to Lump Sum expenditures
• Contact Payroll with tax questions

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FA (Facilities and Administration)

• Part of the Grant budget
• Does NOT reduce direct expense budget
• 50 returned to Instruction
• 40 Department 10 Dean
• Must be spent in support of Grants
• Withheld from budget loaded to PeopleSoft.
• Budget increased with each charge.

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Demo of Available Reports
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Why should the PI keep records?

• PIs responsibility! (Stewardship)
• Like reconciling a checkbook
• Insure accuracy of keyed data
• Track Timing differences
• Track ATV (automatic) charges
• Postage, FM, Copy Center
• Insure matching is met
• 5 year record retention

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GOTCHAs

• Timing of transactions to PS
• Grant Period expiration
• Payroll passes budget checks
• Employer FICA is added to Lump Sum PAR form
  amount.
• Not following the budget.

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Summary

• Generally, JMU rules apply
• Buck stops with PI (and department)
• GCFS provides assistance and reviews for
  compliance
• When in doubt, refer to the award

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Where to Get More Information

• Other training sessions
• IIS Training (PS Financials)
• Accounts Payable Training
• Payroll Training
• Websites
• GCFC (www.jmu.edu/acadaffairs/grants.shtml)
• Finance (www.jmu.edu/financeoffice/)
• JMU Financial Procedures Manual

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Where to Get More Information (contd)

• GCFS - MSC 5713
• JMAC Building 6, Suite 30
• John Hulvey
• 83725 hulveyjd_at_jmu.edu
• Brenda Wilburn Seifried
• 82314 wilburbc_at_jmu.edu
• Donna Crumpton
• 88099 crumptdl_at_jmu.edu
• Kyra Shiflet
• 87108 shiflekl_at_jmu.edu