grants 101 congratulations on being awarded a grant! now what?
TRANSCRIPT
Grants 101Congratulations on being
awarded a grant!
NOW WHAT?
Notify Grants Accountant by completing 2 forms:
1. Request to Add Org Unit (Grant)2. Grant Budget Input Forms These forms translate your
accepted proposal into a format understandable by Panthernet.
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.
1. Request to Add Org Unit
Provide financial information on the basics of the grant:
WHOWHAT
WHEN WHERE
USER GROUP ID
Identifies a group of individuals in relation to an org unit.
Who can VIEW Who can CREATE TRANSACTIONS Who can APPROVE TRANSACTIONS
Grant Funded Employees
Enter the Time and Attendance Code (TA)
Enter the Time and Attendance Input Person
Enter the Time and Attendance Approver
Additional Questions
What 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?
Commitment
When 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.
Encumbrance
When 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.
2. Budget Forms
Translates your approved budget into the general ledger codes used by PBCC
The budget information in Panthernet must correspond to the budget approved by your awarding agency.
General Ledger Codes
100 accounts - assets 200 accounts - liabilities 300 accounts - control accounts 400 accounts - revenue 500 accounts - payroll and
benefits 600 accounts - expenses 700 accounts - capital expenses
Payroll Grants Accountant forwards your
budget information and new org number to Payroll and HR
HR creates a budget position number and notifies Payroll
Payroll notifies you that you can enter in Time and Attendance mode.
Coordinate with Payroll and HR
at time of hiring a new employee or at time an existing employee’s assignment is changed.
Notify Payroll, HR and Grants Accountant of change in employment status in your grant.
Panthernet
Path to view information in your orgCM Campus Menu
UG User Group AccessUG List User Group
Choose the User Group for this orgEnter GL to view income and
expense
Know Where You Stand
Review your org Review income and expenses Compare actual to budgeted
figures Know how much money you have
left Work with your cut off dates in
mind
Income & Expense Screens
GL Code Description of the GL Code Budget Column Commitments and
Encumbrances Actual Income and Expense Balance of your Budget Column
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 screen F7 return to previous screen F2 return to previous application.
Frequently Asked Questions
Examples to Follow
How Are the Funds Credited to My Account?
Consult Grant Documents Each Grant is different Some may be advance payments
paid quarterly Grants Accountant may request
reimbursement Some may require invoices and
reports
Invoicing
Some grants require you to invoice the agency for payment
Grants Accountant will assist with preparation of invoice
Invoices may require additional program information
How Do I Expend Funds? All transactions are processed
through Panthernet All rules of the College pertaining
to expenditure restrictions apply to all grants.
Department Requisitions – request for purchase orders
Disbursement Requests – request for check
How Can I Expend Funds?
Consult grant documents and approved budget
Consult awarding agency guidelines
Consult project officer/agency liaison
Expenses must be necessary and reasonable
What if Monetary Needs Change?
Consult grant documents/award letter for guidance
Consult project officer/agency liaison
What is a Budget Amendment Written request to your awarding
agency Asks to move budgeted funds from
one area to another, or change in award
Requirements vary with each grant Awarding agency approval
normally required, unless award document specifies otherwise.
What is a Budget Transfer?
Command to Panthernet to move approved budget from one general ledger code to another
Transfer must comply with grant requirements
What About Reporting?
Program Reports
Financial Reports
Program Reports
Completed by Grants Administrator Details Accomplishments Details Deliverables Forward completed copy to Grants
Accountant and Grants Development Manager
Financial Reports
Statement of monetary aspects of grant
Notify Grants Accountant of what is due and when
Grants Accountant will complete forms for you
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 forward
Balances will be moved after the Finance Department Year End Closing
College Year End Closing May take several weeks to
complete You may initiate transactions
during this time if necessary. Contact Grants Accountant.
You will not see your budget balances until the closing process is complete
You must manually keep track of expenditures vs. budget
What About Purchasing?
Panthernet is an integrated system Transactions travel through the
different modules of Panthernet Purchasing Department provides a
manual and offers training classes throughout the year
Purchasing Cut Off Date
In anticipation of Year End, a cut off date is announced after which purchases are no longer allowed
Usually the first week of May Allows purchasing to clear the
system You are encouraged to purchase
early in your grant year
Grants with June 30 End Date
Purchasing may be allowed after the College cut off date
Such allowances made on case by case basis
You must still allow for time for delivery of goods and payment
I Have An Existing Grant and Have Been Awarded More Money
Complete the form Notification of Additional Funding on Existing Grant
Complete Grant Budget Input Form
Forms located at: http://www.pbcc.edu/x1934.xlm
Submit forms and copy of award letter to Grants Accountant
How Do I Process Travel Reimbursements? Confirm that travel reimbursements are
allowable and budgeted in your grant All travel expenses must be pre-
approved Expenses must be necessary and
reasonable Use same paperwork and procedures as
with other College related travel Request for Leave form must be
submitted Attach all required receipts Consult College’s Travel Policy for
specifics PBCC - Travel
External Resources
Grant Documents
Grant Project Manager
Granting Agency Website
Internal Resources Grant Development Manager Grants Accountant Manager, Grants & Restricted
Accounting Purchasing Manager Payroll Manager Human Resources Travel Department
Questions?
Grants: Time and Money Know Your Position