About Us | Grants Accounting | Kent State University

About Us

Grants Accounting is a unit of the Controller's Office and oversees the accounting and financial management of grants and contracts for all eight Kent State campuses.

Our Roles and Responsibilities include

  • Create, maintain, and terminate sponsored project indexes/funds in Banner
  • Communicates index/fund numbers to the PI and others as appropriate
  • Review grant expenditures to ensure they are budgeted, within the grant period, and allowable
    • Purchase Orders
    • Check Requests
    • P-card Reconciliation allocations
    • Expense Reimbursements
    • Workflows (cost transfer, salary redistribution, and detail code for fee waivers)
    • Subrecipient invoices
  • Process journal entries
    • Cost Transfers (Salary and Non-Salary)
    • Budget Entries
    • Year end Indirect Cost allocation
  • Prepare and submit to the sponsoring agency
    • Invoices
    • Financial Reports
    • Return of unused funds
  • Manage the collection of sponsored project funds
    • Draw down Letter of Credit funds
    • Monitor Grant Accounts Receivable for timely payment of invoices
    • Inform PI and others as appropriate of payment problems
  • Monitor project funds and notify PI and others as appropriate when a problem exists, such as
    • Budget line overspent beyond allowable limit
    • Project deficit
    • Failure to meet Cost Share obligations
    • Unexpended Program Income funds
  • Effort Reporting
  • Subrecipient Monitoring
    • Certification of Single Audit Reports
    • Request and review supporting documentation based on Risk Assessment
    • Perform periodic desk reviews as needed
  • Share responsibility with Sponsored Programs to formulate, implement, and interpret policies and procedures relating to sponsored projects
  • Assist with
    • Development and negotiation of the Facilities & Administrative Rate Agreement
    • Audits (government, sponsoring agency, and the annual external audit of the university)
    • Preparation of various institutional reports and surveys