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 . The amount of funds allocated for the project or fiscal period will be set forth in the grant or contract award. Funds are obtained from the federal agency in accordance with the terms and conditions of the grant award. All funds are deposited immediately upon receipt in an account maintained in our Current Restricted Fund.
Income is accounted separate from receipts and is based upon disbursements for the current month.
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. All expenditures and encumbrances must conform to the approved budget and must not exceed the amount in the notification of the grant award. 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. Non-personnel expenditures are made in compliance with state and institutional purchasing regulations.