Responsibilities of Contracts & Grants Accounting
- Receives new account information from The Office of Sponsored Programs and enters information into the system for accountants to monitor.
- Coordinates the billing and financial reporting for contracts & grants.
- Collects on billed accounts for contracts & grants.
- Enters transfer authorizations and budget changes on grant accounts.
- Manages Federal Letter of Credit draw downs.
- Monitors facilities and administrative costs on contract and grant accounts.
- Monitors overrun accounts and coordinates with department to clear.
- Monitors the fulfillment of cost share obligations on contracts and grants.
- Closes out accounts when grants terminate or when the projects are completed.