Type of Policy: Administrative
Policy No: 3.10
Last Revised: April 2014
Review Date: April 2021
Retire Date: July 2023
Contact Name: Josh Rosenberg
Contact Title: Executive Director, Grants and Contracts Accounting
Contact Email: firstname.lastname@example.org
Reason for Policy:
This procedure explains the method of establishing a new sponsored project in the accounting records of the Georgia Institute of Technology where the Georgia Tech Research Corporation is the sponsoring entity.
The Office of Grants and Contracts Accounting is charged with the establishment of sponsored projects in the Chart of Accounts and the accounting records of the Georgia Institute of Technology upon receipt of properly authorized/approved budgetary and invoicing documentation. The authorization should be approved by authorized personnel to obligate funds from the Georgia Tech Research Corporation. Requests received by the Office of Grants and Contracts Accounting without approval by appropriate personnel will be returned to the requesting unit.
Upon receipt of a properly authorized request for a new sponsored project, the Office of Grants and Contracts Accounting determines the scope of work to be funded and assigns a sponsored fund and project number within the requesting unit. The project number is then submitted electronically for review and update to the Institute accounting records. The following steps are then taken to complete the project number assignment and notification process:
- The Office of Grants and Contracts Accounting sets up the fund and project in the Grants Management (GM) System and the Chart of Accounts. The appropriate budget information is entered into GM based upon data provided in the request.
- The unit requesting the project and the recipient unit are notified by the Office of Grants and Contracts Accounting of the fund and project number which should be used for related charges.
There is no specific form which is used to request new funding from the Georgia Tech Research Corporation. The requests are typically routed through the Office of the Provost and Executive Vice President for Academic Affairs and should include at a minimum the following information:
- Requested budget maximum with category distribution.
- Source of funding for costs incurred for the project being requested.
- Effective and expiration date required for the project.
- Project director responsible for project.
- Administrative unit to which project should be assigned.
- Sponsored Project, Fund and Sponsor name if established for matching/cost share obligation.
Contact the Grants and Contracts Accounting Department for specific guidance related to managing sponsored projects at Georgia Tech