Each grant is assigned a set of codes to identify the grant in Banner and to direct the funds to the proper place. These codes are set up by the Grant Accountant in the College Business Office. The Grant Coordinator and their supervisor will be provided with a Setup Sheet by the Grants Office, which is a reference for which fund and account codes to include on Direct Payment Vouchers for purchases on the grant budget, as well as other important information about the grant, such as report due dates. Budget codes from the Setup Sheet should be provided in the following order: Fund - Org - Acct # - Program.

The Grants Office representative and the Grants Accountant, will review the project budget, period of performance, reporting requirements and any other pertinent topics. The funding details for the project will be reviewed, including whether the grant is a reimbursable grant, in which the College expends its funds first and is later reimbursed for project costs or a grant where payments are made in advance of the proposed activity to be completed. In the latter case, any funding payment schedule made available by the funder will be reviewed. The VP of Administration and Finance will be responsible for conveying this information to other Finance office staff with revenue reporting and cash forecasting responsibilities.

Once a grant is established, the Grant Accountant will provide monthly financial reports. The Grants Office will conduct a high-level review of these reports to check for compliance and project timelines. The Grant Coordinator is expected to review expenditures in detail so that they are in accordance with the approved budget. Any amendments to the budget must be initiated by the Grants Office and should plan to complete all expenditures within the period of performance for the grant. The President’s Cabinet will be kept updated on funded project budgets, reporting requirements, payments, and other financial information.