400.5 Establishment of Award Accounts
Responsible Officer: Director
Responsible Unit: Award Management
Effective date: July 1, 2008
Last revised on: March 20, 2008
The determination of how an award account is established is dependent on the award notification, applicable University and sponsor policies, and guidelines in the Office of Management and Budget (OMB) Circular A-21 and its Cost Accounting Standards (CAS) for Educational Institutions.
Following receipt and acceptance of an awarded grant or cooperative agreement, the Office of Sponsored Research (OSR) will create an individual account number for the award and subsequently, necessary additional accounts, in the University’s Financial Reporting System (FRS) according to the official Account Code Structure.
The department is notified electronically when the fund authority has been prepared by OSR, thereby indicating the award account has been activated. In addition, a hard copy of the fund authority is sent to the Principal Investigator (PI) and the Departmental Administrator (DA) when a new account is established or when there is a change to the account.
Assignment of an account number may be delayed if any of the following conditions exist:
- Lack of submission of an award document, Project Financial Guarantee (PFG) and/or Letter of Guarantee (LOG)
- Proof of compliance is missing
- Budgetary information is incomplete or missing
- Questions regarding the budget have not yet been addressed
- Questions regarding carryover funds or budget extensions for multiple-year grants
- Negotiations are still ongoing
Reason for Policy
This policy indicates the conditions under which an award account may be established by OSR.
Procedures and Related Policies
- OSR Policy 400.6 Pre-Award Spending
- OSR Policy 400.6.1 Completing a Financial Guarantee Request in RAMSeS
OSR Research Tool Kits
Questions and concerns can be submitted online at Ask OSR or by using the OSR staff directory. Within RAMSeS, the “Speak to Someone” option assists in locating the staff member best suited to address project-specific issues.
1. UNC-Chapel Hill, Accounting Services, Business Manual.
The policies in the Office of Sponsored Research Policies & Procedures Manual supersede any OSR policies, procedures and appendices previously included in the University Business Manual, a publication of UNC Chapel Hill’s Division of Finance.