Finance Office

Grant Accounting

Grant or contract funds are restricted by donors or other outside agencies as to the specific purpose for which they may be expended. The Office of Controller is responsible for the collection of grant proceeds, the review and submission of post-award financial reports, and works closely with principal investigators to ensure that financial transactions comply with granting agency regulations.

Effective July 1, 2017 (FY2018), Rivier University requires compliance with the new Uniform Guidance (CFR Title 2: Grants and Agreements PART 200). Purchases funded by federal grant funds must adhere to regulations found in OMB Circular A-110, which details the administrative requirements for colleges with federally funded grants and agreements. Section e_40-48 outlines the required purchasing standards. Purchases made with federal funds are reviewed for compliance with the Federal Acquisition Regulation and the Office of Management and Budget Circular A-110.

Department Responsibilities
The Principal Investigator (PI) is ultimately responsible for administering the grant. The PI must comply with the specific terms and conditions of the grant award and ensure that the program requirements of the award are fulfilled. The PI must make certain that any required project reports are submitted in a timely manner. The PI is also responsible for monitoring expense budgets to prevent cost overruns and for the certification of cost share/matching funds (if any).

Finance Department Responsibilities
Office of the Controller provides financial and administrative oversight for all external grants, contracts and agreements entered into by the University and works closely with the Principal Investigator to ensure that financial transactions comply with the granting agency and the University’s accounting requirements. Office of the Controller also enters and revises grant budgets in GP Dynamics, prepares billing documentation and cash requests, completes and/or reviews post-award financial reports, and distributes Personnel Activity Reports (PARs).

Each grant uses a separate cost center having a unique fund number. Fund numbers are the fifth segment in the GL account (x-x-xxx-xxx-fund-x).  Accounts are set up to further delineate various expenses as outlined in the grant budget.

Rivier University documents its policies and procedures as they relate to grant funds projects. The goal is to review all policies and procedures on an annual basis to ensure that the university is in compliance with different agencies we work with. 

These policies and procedures are in addition to Rivier University policies and procedures as detailed by the Finance Office. Below are grant-related policies and procedures:

  • Uniform Guidance: Purchasing Policy and Procedures  
  • Allowable/Unallowable-Indirect Costs Reporting  
  • Participant Support  
  • Salary Allocation Guidelines  
  • Effort Reporting & Certification  
  • Summary of Financial Accounting Practices – Grants