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.