Grants & Contracts Accounting

Procedures to establish a grant or contract 

  1. The process begins with writing the grant or contract. This is done with the aide of the Office of Sponsored Programs.

  2. The Proposed Budget has been developed to assist with developing a grant proposal budget.

  3. Once the grant has been approved and signed by both VSU and the grantor/contractor, a signed copy will be forwarded to the Restricted Funds Accountant by the Office of Sponsored Programs.

  4. The Restricted Funds Accountant and the Director of the Office of Sponsored Programs may request a meeting or phone discussion with the PI (Principal Investigator) before a grant account is set up.  After the meeting/discussion, the Restricted Funds Accountant will forward the account information to the PI via email. Please download the Sponsor Review Form here (provides guidelines for grant management).

  5. A grant account will be established after receiving the completely signed contract from the grant agency (Set up will be done within a week of receiving the contract).

  6. The PI is responsible for reviewing expenditures to verify accuracy.  The Restricted Funds Accountant will forward monthly progress reports to the grant PI.  The PI should keep his/her own records of expenditures to compare to monthly reports to insure that all grant expenditures are directly related to the project and are necessary to meet project goals and objectives.  An Expenditure Tracking Form is available for accomplishing this task.  If discrepancies are noted in budgets or expenditures, please contact the Restricted Funds Accountant at extension 5708 or srhezeki@valdosta.edu.  

Treatment of Facilities and Administrative (Indirect) Costs

1. Distribution of Facilities and Administrative (Indirect) Costs
Indirects/Facilities and Administrative (F&A) costs earned on awards are distributed as follows:

  • 35% to PI/PD (Principal Investigator/Project Director)
  • 35% to Office of Sponsored Programs
  • 15% to PI/PD’s Department Head
  • 15% to PI/PD’s College Dean

An alternate distribution for collaborative projects that involve co-PI/PDs or cross departments and/or colleges may be requested during the grant proposal submission process (approval will be given by the Director of Sponsored Programs).

2. Transfer of Earned Indirect Costs

F&A is earned as grant expenditures are charged. The Restricted Funds Accountant will send an email to the persons earning indirect each month, stating the amount of F&A earned. Unless persons respond otherwise, the funds will be budgeted to “operating.”  Currently, F&A funds can be carried forward each fiscal year for use in supporting research and other institutional activities of the PI and departments earning indirect. The persons earning indirect must provide an annual memo regarding the intended use of these funds in the coming fiscal year (required reporting to the BOR by Financial Services). Indirect funds cannot be transferred to a regular state departmental account.

3. Principal Investigator Departments

A department ID is set up in PeopleSoft for new PIs earning indirect revenue in fund 15000.  Once a PI leaves the university, the funds should be transferred to the new PI for the grant if applicable. If the grant will end when the PI leaves the university, the funds will be transferred to the PI’s department.

Policy

If you have any questions please call or email us using the information below.

Contact Person

Department/Position

Email Address

Ext.

Shanika Hezekiah

Restricted Funds Accountant

srhezeki@valdosta.edu

5708

Ann Olphie

Director of Sponsored Programs and Research Administration

ewolphie@valdosta.edu

7837