Financial Services is responsible for the system setup of PeopleSoft Projects and Grants, entry of budget amounts, and posting of routine accounting transactions. Issues regarding proposal submissions or compliance issues are handled by the Office of Sponsored Programs and Research (OSPR). Answers to the following frequently asked questions are provided below.
- What are University Matching Funds?
- Can Grant Funds Be Transferred?
- How are Projects and Grants Created?
- How are goods & services charged and are there any restrictions?
Contact Shelly Albrecht, Accounting Services at 410-704-3625 or firstname.lastname@example.org
Contact OSPR at 410-704-2236 or email@example.com
What are University Matching Funds?
Some Grants may require matching funds from the university. The source of the University's share is detailed in the grant award documents. Matching Fund amounts are handled by Financial Services on a regular basis as specified by OSPR.
Can Grant Funds Be Transferred?
OSPR may approve the transfer of funds from Grants to a different department under limited circumstances.
- Any funds remaining when the grant period expires may be transferred to another department only with the prior approval of the grantor agency. The grantor agency may have placed restrictions on the Grant that prohibits such a transfer and the remaining funds may have to be returned to the grantor agency.
- A fund transfer can be processed to reimburse a department if the department has incurred expenses on behalf of the grant and the department has maintained sufficient supporting documentation.
How are Project and Grant Numbers Created-Assigned?
Grant funding is awarded from federal, state, local and private sources. Once the granting agency approves a funding proposal, OSPR prepares the budget, completes the Award Transaction Summary, and submits the request to Financial Services.
Financial Services PSTeam uses the submitted forms to create a unique numerical designation for the project or grant in the PeopleSoft Financials System. These unique numbers and account categories allow expendable budgets to be established at varying levels of detail that are used to control expenditures and disbursements, track encumbrances charged to the grant, and generate monthly reports.
Once the new Grant number has been created and the approved budget appropriations are entered, all parties including the department chair, OSPR, and the person in charge (responsible person) of the grant are notified via e-mail. Signatures authorized to expend funds from the grant are registered in Financial Services signature database. Funds expended from the grant follow the same university-state approval procedures used by any other department.
How are Goods & Services Charged to a Grant; and, are there any Restrictions?
- VISA Procurement Card: Under the University's VISA Procurement Card Program, faculty and staff may obtain individual credit cards to make purchases that can be reallocated to the Grant subject to limits and restrictions set by the State. To learn more about the program or to apply for a card, contact Procurement at 410-704-3492.
Requisition Process: Purchases exceeding the credit
limits ($5000) of the VISA card must be made by submitting
a Purchase Requisition to Procurement.
- Purchases made this way will first show on the grant budget as funds encumbered under the account chosen when the requisition was written.
- The encumberance is liquidated when the vendor's invoice is paid by Accounts Payable and charged to the grant budget.
Restrictions: Department codes set up for grants are subject to university procurement policies and procedures unless there is specific language in the grant contract permitting restricted purchases.