Managing Awards
Grant accounts operate following the same University procedures for accounts payable, personnel procurement, travel, and all other types of expenditures. Principal investigators/project directors initiate expenditures against the grant budget. The financial manager assigned to the account (usually the applicable dean) authorizes these expenditures while the Grant Accountant monitors and reconciles the grant account.
Responsibilities
The Office of Sponsored Projects and Research (OPSR) is responsible for the negotiation of all sponsored project awards and sub-recipient agreements.
The Grant Accountant in Business Office Accounting is responsible for account opening, billing, collecting, financial reporting, and account closing for grants and contracts awarded to the University by governmental and private sponsoring agencies. The Business Office maintains the financial records for each grant.
The Principal Investigator has overall responsibility for the conduct of the project described in the grant proposal. The Grant Accountant provides assistance, and the PI is expected to conduct all work in a responsible and ethical manner, to comply with the funding agency’s guidelines for expenditures and reporting, and to keep the University and the funding agency informed of any significant changes in the project.
USI Grant Accountant - to be notified if/when an award is made:
- Lori Harriss, Grant Accountant, 812.465.1167, lharriss@usi.edu
Grants Policies and Procedures
The following list includes regulations, policies, procedures, and other resources to assist and inform the award management process.
- Grant Management Guide
- Accounts Payable
- Budget Changes
- Effort Reporting
- Facilities & Administrative Costs (F&A)
- Grant Accounting
- Internal Audit
- No-Cost Extensions: Extensions in the project period that do not involve additional funds are called no-cost extensions. They are usually necessary when work on the project takes longer than anticipated—not simply because grant funds remain at the end of the original project period. Most federal funding agencies provide up to a year’s extension as a routine matter, but require review and approval of subsequent extensions. Contact OSPR and the Grant Accountant as soon as possible because extension requests may be subject to deadlines.
- Personnel
- Procurement
- Reporting: Sponsors typically request both periodic financial and technical reports. The schedule for completing reports and format are outlined in the sponsor's notice of award or in the agency general terms and conditions. The Grant Accountant is responsible for completing financial reports, and the PI/PD is responsible for the technical reports. Meeting reporting deadlines should be a coordinated effort between both the Grant Accountant and the PI/PD.
- Research Policies
- Travel Procurement