Function, Project, Program, Organization, or Activity:

Grants Administration: Federal Drawdowns and Receipt of Non-federal Funds

Reason(s) Why Audit Is Needed:

This will be the third of a series of audits we will conduct in the Office of Research Administration area. Grant administration is an important area in any organization receiving large amounts of grant funds. Documentation supporting grant funds received, grantor restrictions, grant expenditures, and project results must be maintained on file as evidence of the University's compliance with grantor wishes and to bolster the University's ability to receive future grant funds. In the same manner, it is extremely important for the University to seek reimbursement for its expended costs as soon as fiscally possible.

The following subject areas will be reviewed in our series of audits:

• Receipt of Grant funds
• Monitoring of Grant restrictions
• Establishment of Grant accounts and budgets
• Approval of Grant expenditures
• Monitoring of Required Grant reports
• Close-Out of Completed Grants
  

Audit Objectives:

The principal objective of this series of audits is to determine and assess the policies and procedures associated with the University's grant administration function. This audit will examine the policies and procedures that guide the:

• Prompt drawing down of federal grant funds;
• Prompt invoicing and receipt of non-federal grant funds; and
• Establishment of grant accounts and budgets

The objective of this portion of our audit series is to determine that the University requests federal grant and non-federal grant funds in a timely manner.

Priority: High