Presentation on theme: "Congratulations on being awarded a grant! NOW WHAT?"— Presentation transcript:
1 Congratulations on being awarded a grant! NOW WHAT? Grants 101Congratulations on being awarded a grant!NOW WHAT?
2 Notify Grants Accountant by completing 2 forms: Request to Add Org Unit (Grant)Grant Budget Input FormsThese forms translate your accepted proposal into a format understandable by Panthernet.
3 Send a copy of the award letter/signed contract to the Grants Accountant Finance will assign an organizational unit (org number) for the life of the grant.
4 1. Request to Add Org UnitProvide financial information on the basics of the grant:WHOWHAT WHENWHERE
5 USER GROUP ID Identifies a group of individuals in relation to an org unit.Who can VIEWWho can CREATE TRANSACTIONSWho can APPROVE TRANSACTIONS
6 Grant Funded Employees Enter the Time and Attendance Code (TA)Enter the Time and Attendance Input PersonEnter the Time and Attendance Approver
7 Additional QuestionsWhat is the last day to make encumbrances/submit Purchase Orders?What is the last day to pay encumbrances with grant funds?(meaning no funds can be disbursed after this date)Are Roll-Over funds allowed?
8 CommitmentWhen a department request is entered in the system, the funds to pay for this request are “committed”. A portion of the budget is restricted to pay for the proposed acquisition.
9 EncumbranceWhen a purchase order is raised to order the item a portion of the budget is restricted to ensure funds are available to pay for the acquisition.
10 2. Budget FormsTranslates your approved budget into the general ledger codes used by PBCCThe budget information in Panthernet must correspond to the budget approved by your awarding agency.
11 General Ledger Codes 100 accounts - assets 200 accounts - liabilities 300 accounts - control accounts400 accounts - revenue500 accounts - payroll and benefits600 accounts - expenses700 accounts - capital expenses
12 PayrollGrants Accountant forwards your budget information and new org number to Payroll and HRHR creates a budget position number and notifies PayrollPayroll notifies you that you can enter in Time and Attendance mode.
13 Coordinate with Payroll and HR at time of hiring a new employeeor at time an existing employee’sassignment is changed.Notify Payroll, HR and Grants Accountant of change in employment status in your grant.
14 Panthernet Path to view information in your org CM Campus Menu UG User Group AccessUG List User GroupChoose the User Group for this orgEnter GL to view income and expense
15 Know Where You Stand Review your org Review income and expenses Compare actual to budgeted figuresKnow how much money you have leftWork with your cut off dates in mind
16 Income & Expense Screens GL CodeDescription of the GL CodeBudget ColumnCommitments and EncumbrancesActual Income and ExpenseBalance of your Budget Column
17 Navigate Income & Expense Screens Move the cursor by using the plus signs at bottom of screen.Move cursor up to desired figure.Hit enter to see detail of current month’s transactions.F8 advance to next screenF7 return to previous screenF2 return to previous application.
19 How Are the Funds Credited to My Account? Consult Grant DocumentsEach Grant is differentSome may be advance payments paid quarterlyGrants Accountant may request reimbursementSome may require invoices and reports
20 Invoicing Some grants require you to invoice the agency for payment Grants Accountant will assist with preparation of invoiceInvoices may require additional program information
21 How Do I Expend Funds?All transactions are processed through PanthernetAll rules of the College pertaining to expenditure restrictions apply to all grants.Department Requisitions – request for purchase ordersDisbursement Requests – request for check
22 How Can I Expend Funds? Consult grant documents and approved budget Consult awarding agency guidelinesConsult project officer/agency liaisonExpenses must be necessary and reasonable
23 What if Monetary Needs Change? Consult grant documents/award letter for guidanceConsult project officer/agency liaison
24 What is a Budget Amendment Written request to your awarding agencyAsks to move budgeted funds from one area to another, or change in awardRequirements vary with each grantAwarding agency approval normally required, unless award document specifies otherwise.
25 What is a Budget Transfer? Command to Panthernet to move approved budget from one general ledger code to anotherTransfer must comply with grant requirements
26 What About Reporting?Program ReportsFinancial Reports
27 Program Reports Completed by Grants Administrator Details AccomplishmentsDetails DeliverablesForward completed copy to Grants Accountant and Grants Development Manager
28 Financial Reports Statement of monetary aspects of grant Notify Grants Accountant of what is due and whenGrants Accountant will complete forms for you
29 What About Year End? The College’s fiscal year end is June 30 If your grant continues into the next year, no action is required on your part to move the balances forwardBalances will be moved after the Finance Department Year End Closing
30 College Year End Closing May take several weeks to completeYou may initiate transactions during this time if necessary. Contact Grants Accountant.You will not see your budget balances until the closing process is completeYou must manually keep track of expenditures vs. budget
31 What About Purchasing? Panthernet is an integrated system Transactions travel through the different modules of PanthernetPurchasing Department provides a manual and offers training classes throughout the year
32 Purchasing Cut Off Date In anticipation of Year End, a cut off date is announced after which purchases are no longer allowedUsually the first week of MayAllows purchasing to clear the systemYou are encouraged to purchase early in your grant year
33 Grants with June 30 End Date Purchasing may be allowed after the College cut off dateSuch allowances made on case by case basisYou must still allow for time for delivery of goods and payment
34 I Have An Existing Grant and Have Been Awarded More Money Complete the form Notification of Additional Funding on Existing GrantComplete Grant Budget Input FormForms located at:Submit forms and copy of award letter to Grants Accountant
35 How Do I Process Travel Reimbursements? Confirm that travel reimbursements are allowable and budgeted in your grantAll travel expenses must be pre-approvedExpenses must be necessary and reasonableUse same paperwork and procedures as with other College related travelRequest for Leave form must be submittedAttach all required receiptsConsult College’s Travel Policy for specificsPBCC - Travel
36 External Resources Grant Documents Grant Project Manager Granting Agency Website
37 Internal Resources Grant Development Manager Grants Accountant Manager, Grants & Restricted AccountingPurchasing ManagerPayroll ManagerHuman ResourcesTravel Department
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