Restricted Funds Accountant
309 Bibb Graves Hall
Contracts and grants are important to Jacksonville State University. Funds provided to support sponsored projects are a significant financial resource for JSU.
Grants, Contracts and Agreements are to be processed and approved as noted in the University Policies and Procedures Manual II:05:01. See Grants & Contracts brochure. For further information, see related memo from the Vice President for Administrative and Business Affairs.
* The Principal Investigator writes the grant and submits it with an "Approval Form for Sponsored Projects" (BA Form 42). Routing protocol must be observed.
* All Proposals must be approved by the Vice President for Administrative and Business Affairs (226 Bibb Graves Hall) or the President before being submitted to an outside agency.
* Copies of all proposals must be provided to the Sponsored Projects Director (201 Bibb Graves Hall) after final approval.
|FINANCIAL POINTS TO CONSIDER IN PROPOSAL:|
|1. Award Amount|
|2. Period of Performance|
|3. Cash and/or In-Kind Matching including sources of funds and budget number|
|4. Method of payment from sponsor|
|5. Program Revenue Generated|
|6. Project Budget by Expense Category|
|7. Fringe Benefits Rates*|
|Health, Disability, Life Ins.||44.04%|
|8. Indirect Cost Rates:|
|Research Grants||44.00%||(Salary/Wages only)|
|Dept. of Education||8.00%||(Total Direct Cost)|
|9. A statement that JSU reserves the right to adjust spending on the contract as required for changes in fringe benefit rates.|
|*Based upon a $20,000 annual salary and subject to annual revision.|
AFTER THE AWARD:
* The Principal Investigator submits the award notification to the Vice President for Administrative and Business Affairs (226 Bibb Graves Hall) for approval.
* Copies of the award document, a project budget, and a Request for Sponsored Projects Account form must be sent to the Sponsored Projects Director (201 Bibb Graves Hall).
* An Account number is assigned and the Principal Investigator is notified.
* The Principal Investigator processes the Payroll Action Form for salaries of current employees who are to be charged to the project, or to a matching account, if applicable. A request to post a position is sent to Human Resources for a new employee.
* The Budget Manager may begin charging project costs to the account.
* The Principal Investigator prepares an invoice and submits it to the agency. A copy is sent to the Restricted Funds Accountant for verification.
* If required, the invoice is signed by the Vice President for Administrative and Business Affairs and mailed to the agency.
* Payment should be sent directly to the Bursar's Office.
REMEMBER . . . . .
Applications for outside funding must be approved by the Vice President for Administrative and Business Affairs before being submitted to an outside agency.
Since fringe benefits vary depending upon employment circumstance, each application should include a statement that JSU reserves the right to adjust spending on the contract as required for changes in fringe benefits rates.
Schedule expenditures to match the time frame of the project.
Cash and In-Kind Matching Funds must be verifiable and auditable.
Approval of the granting agency may be required to transfer funds within the budget.
The principal investigator is responsible for the preparation of invoices to the agency providing funds for the grant/contract. Invoice copies should be sent to the Restricted Funds Accountant.
The principal investigator is responsible for maintaining time records for audit purposes.
The department involved must cover unreimbursed project costs.