The Mission of The Office of Budgets and Contracts
It is our mission to provide effective fiscal management of sponsored project and institutional funds through collaborative efforts with project directors and other offices under the auspices of the Division of Business and Financial Affairs. The Office of Budgets and Contracts has two key functions.
Grant Management, which allows us to:
- Review pre- and post-award budgets for compliance with grant terms and conditions
- Prepare the award budget in accordance with the PI’s approved budget and the policies of the college; this will include establishing an internal budget code number from the award in BANNER
- Review and approve restricted expenditures for compliance with grant terms and conditions
- Prepare financial reports as required by grantor
- Review, process and approve budget adjustments including transfer of funds between line items
- Request approval of payments for most sub-contracts
- Approve payments to co-participants of sub-contract agreements
- Inform Principal Investigator’s of recent budgetary guidelines posted by the federal government
Budgeting of the College Funds, which allows us to:
- Project annual and long-range budgets for the College
- Assist department heads and project directors in budget preparation and maintenance of College and external funds
- Review, process and approves budget adjustments including transfer of funds between line items (institutional and sponsored project funds)
- Prepare budget-to-actual reports
- Reconcile position budget
