Procedures for Requesting Grant Reimbursement
Adopted 4/27/2022
Objective
Ensure grant reimbursement requests are in accordance with the Title 2 U.S. Code of Federal Regulations Part 200 (Uniform Guidance) Cash Management rules. Ensure accuracy of Grant Reimbursement.
Procedures
- On a regular basis, Grants Accountant prepares reconciliation of actual grant expenditures to grant cash received to date to determine reimbursement/ drawdown request amount.
- Controller reviews and approves drawdown amount per reconciliation for respective grant.
- See also Monthly Reconciliation and Reimbursement Request Procedures for Grants
- If reimbursement request is via paper form, Grants Accountant prepares and mails invoice to the Grantor. Keep copy of invoice for records.
- If reimbursement request is done electronically, Grants Accountant logs into respective secure site to request reimbursement. Keep copy of reimbursement request confirmation.
- For reimbursements paid via ACH:
- Give copy of confirmation to the Controller to verify posting to College’s bank account.
- Upon verifying credit per College bank agrees to confirmation page, Controller gives Grants Accountant copy of bank ACH credit posting so that the drawdown can be entered as a cash receipt via the Bursar's Office entry.
- Grants Accountant codes the ACH credit with applicable NARD (non-A/R deposit) and general ledger account number(s) for the Bursar's Office to post as a cash receipt.
- Copy of Confirmation page, Bank ACH transaction and Colleague cash receipt is maintained by Finance Department and Bursar's Office.
- For reimbursements paid via check:
- Check is logged in centralized log book maintained by President’s Office
- Grants Accountant codes the check with applicable NARD (non-A/R deposit) and general ledger account number(s) for the Bursar's Office to post as a cash receipt.
- Bursar’s Office deposits check with the daily deposits through remote deposit capture.
- Copy of check and Colleague cash receipt is maintained by Finance Department and Bursar's Office.
- Check deposits are reconciled by Junior Accountant
- Grants Accountant ensures reimbursement requests are done in accordance with grant terms.
- Requests are done on a reimbursement basis or, if done in advance, not more than three days prior to incurring the expenses.
- Grants Accountant confirms that the final expenditure report ties to cash received plus receivable. Controller and/ or CFO reviews the reconciliation. (Note: This is done as part of the year end grant close-out and confirmed during the preparation of the Single Audit Schedules for the Comprehensive Annual Financial Report.)
- Receivables are monitored for subsequent cash receipt.