• Review and approve grant bills.
• Send bills to grantors or draw down from grantors for billed amounts.
• DR Deferred revenue
• ■ CR Unbilled AR
• oFor unconditional grants paid in advance where the revenue was recognized with the original award, there should be no grant billing processed at month-end.

Payment of expenses draws down the restricted fund balance.

Collections from Grantors

Responsible position(s):

• Grant Accountant

Required documents and access:

• Banner

Frequency and timing:

• Monthly

Steps:

• Submit requests to the grantor agency for AR balances that can be drawn down.
• Forward confirmations of drawdowns to Cashiers to record when deposit posts to the bank.
• Monitor bank activity for receipt of electronic payments – wires, ACH.
• Run a report of grant AR aging by grantor and follow up with grantors on past due AR:
• Apply grant payments to grant receivables–draws, checks, EFTs, and wire payment
• o1-30 days - send statement with payment instructions
• o31-60 days – send statement, follow up with phone call, email
• o60-90 days – discontinue any new activity, notify agency of collections process
• o91+ days – send to collections agency

Grant Financial Reporting

Responsible position(s):

• Grants Manager, Principal Investigator

Required documents and access:

• Banner
• Grant agency reporting system

Frequency and timing:

• As required by grant agreement

Steps: