GT Foundation Awards
GT Foundation Awards jbarber32GT Foundation Award Accounting
GT Foundation Award AccountingTo provide guidance to schools, colleges, departments and units of the Institute as it relates to the accounting for grants awarded to the Georgia Tech Foundation (GTF) and administered by the Institute.
This policy provides provide guidance to schools, colleges, departments and units of the Institute as it relates to the accounting for grants awarded to the Georgia Tech Foundation (GTF) and administered by the Institute.
Management of GTF and Financial Aid Projects
GTF and Financial Aid projects are managed by the Accounting Services Department. All other sponsored awards (including sub-projects) are managed by the Office of Grants and Contracts Accounting. GTF awards are handled in the same manner as other sponsored projects) as described in the Policies and Procedures referenced below.
Grants & Contracts: General Information
Grants & Contracts: Plan-Confirmation
Grants & Contracts: Undesignated Sponsored Accounts
Grants & Contracts: Unallowable Expenses
Grants & Contracts: Unbillable Sponsored Projects
Grants & Contracts: Cost Transfer Requests
- Cost Transfer Form (Excel document)
Grants & Contracts: Write-off Requests
Grants & Contracts: Project Set Up in Grants Master
Grants & Contracts: Project Close-out in Grants Master
Grants & Contracts: Establishing a Sub-Project Account
Grants & Contracts: Sponsored Project Budget Revisions
- Budget Revision Input Form (Excel document)
- Budget Revision to Sponsored Project Form (Excel document)
- Budget Categories and Object Codes Form (Excel document)
Allowable Expenditures
All allowable expenditures relating to the grant will be processed through the Institute. Any expenditures determined to be unallowable by the Institute, but allowable to the grant, may be paid directly by the Foundation. Any such charges must be communicated to the Controller’s Office where a memo entry will be made to the project accounting records in order to properly accumulate and report costs incurred.
This policy applies to all schools, colleges, departments, and units of the Institute.
- Campus Schools, Colleges, Departments or Units are responsible for managing GTF funds assigned to their unit.
- The Controller’s Office and Bursar’s Office are responsible for overseeing GTF funds allocated to the Institute.
To report suspected instances of noncompliance with this policy, please visit Georgia Tech’s EthicsPoint, a secure and confidential reporting system, at: https://secure.ethicspoint.com/domain/en/report_custom.asp?clientid=7508
| Revision Date | Author | Description |
|---|---|---|
| 08-2013 | Policy Library | Fixed Unbillable Sponsored Projects link |
| 10-03-2014 | Controller's Office | Updates to verbiage. New gift transmittal form |
Georgia Tech Foundation Award Project Number Assignment
Georgia Tech Foundation Award Project Number AssignmentTo provide guidance to schools, colleges, departments and units of the Institute as it relates to establish project numbers for grants awarded to the Georgia Tech Foundation (GTF) and administered by the Institute.
This policy provides provide guidance to schools, colleges, departments and units of the Institute as it relates establishing new sponsored projects in the accounting records of the Georgia Institute of Technology (GIT) where the Georgia Tech Foundation (GTF) is the sponsoring entity. Effective February 1, 1999, all business transactions financed by GTF funds are to be processed through GIT in accordance with generally accepted business practices and processes; therefore, a GIT sponsored project is to be established for GTF awards. For additional information, see the Business and Finance – Foundation Funds section in the Policy Library for a complete description of the policies and procedures for Solicitation, Acceptance and Expenditure of Georgia Tech Foundation Funds.
This policy applies to all schools, colleges, departments, and units of the Institute.
Project Establishment
The Controller’s Office is charged with the establishment of sponsored projects in accounting records of the Georgia Institute of Technology upon receipt of properly completed GTF Gift Request Form.
Upon receipt of a gift or budgetary allocation, the Georgia Tech foundation will establish a GTF account number for the funds. GTF will transmit the account number, dollar amount, restricted use of the funds, and any effective or expiration dates for the funds to the Controller’s Office, using the Gift Transmittal Form. All funds reported on this form will be budgeted in the “Other Memo” category. If specific budget details are required, the budget information should be entered on the second page of the Form using the spaces provided. The GTF Gift Request Form must be approved by authorized personnel at the Georgia Tech Foundation.
When gifts and/or awards are received initially by the operating units, a GTF Gift Request Form should be prepared by the unit and forwarded directly to the Foundation with all supporting documentation. Requests received by the Controller’s Office without a properly completed GTF Gift Request Form will be forwarded to the Georgia Tech Foundation for action.
Unit Notification
The unit responsible for management of the account will be notified of the GTF account number and the corresponding GIT project number This notification will also identify the available funding (budget), and any restrictions associated with the use of funds that are reported by the Foundation.
Sub-Projects
Sub-Projects that are required by the managing units should be established using the published procedure governing the establishment of sponsored Sub-Projects (Grants & Contracts: Establishing a Sub-Project Account).
GTF and Financial Aid sponsored sub-projects are managed by the Accounting Services Department. All other sponsored awards (including sub-projects) are managed by the Office of Grants and Contracts Accounting.
- Campus Schools, Colleges, Departments or Units are responsible for managing GTF funds assigned to their unit.
- The Controller’s Office and Bursar’s Office are responsible for overseeing GTF funds allocated to the Institute. The Controller’s Office is also responsible for setting up GTF projects and sub-projects.
To report suspected instances of noncompliance with this policy, please visit Georgia Tech’s EthicsPoint, a secure and confidential reporting system, at: https://secure.ethicspoint.com/domain/en/report_custom.asp?clientid=7508
| Revision Date | Author | Description |
|---|---|---|
| 10-03-2014 | Controller’s Office | Updates to verbiage. Title update |