Administration and financial management of grants, contracts and other awards to Illinois State University are governed by a variety of laws, regulations, and guidelines promulgated by the University and other state agencies, which are responsible for the operation of this institution.
In addition, the sponsoring agencies develop their own rules and regulations. These range from zero governance by certain private sponsors to very complex regulations such as those described in the U.S. Office of Management and Budget Circulars A-21 and A-110, which are implemented according to the dictates of the several federal granting agencies. Some grantors require prior approval for budget transfers, while some forbid them.
The University has established a budget transfer system for grants and contracts. It complies with federal guidelines and provides adequate information for most private and state agencies.
This system utilizes a form called the Budget Transfer Request. The form was developed in an effort to simplify the budget transfer process for Principal Investigators.
Guidelines for Budget Transfers
- Budget transfers can only be made by the Grants Accounting staff.
- Blank Budget Transfer Request forms can be requested from either Research & Sponsored Programs (RSP-Hovey Hall 310) or the Grants Accounting area of the Comptroller's Office.
- Budget transfers should be made prior to the expenditure of grant or contract funds.
- The fiscal agent should bring the request to the Grants Accounting area of the Comptroller’s Office (Hovey 102, Mail Code 1200) or fax the request to the Comptroller's Office at 309-438-8245 where it is reviewed. If it is within the guidelines, the transfer is made and the form is signed by the accountant and then forwarded to RSP for their approval. Completed Budget Transfer Request forms are sent to RSP for official University approval.
- RSP gives their approval, if appropriate, and returns the form to the Grants Accounting area, where it is filed. RSP will return a copy of the authorized Budget Transfer Request form to the Principal Investigator.
- Budget transfers will be executed in the accounting system upon authorization of the transfer request.
- Transfers into the equipment line are regulated by most agencies. The purchase of equipment usually requires prior approval from the agency. The equipment must be directly related to the completion of the grant or contract and the purchase should occur early in the contract because equipment purchases may be prohibited in the last six months of a grant or contract.
- Transfers into and out of personnel are restricted by most agencies. Transfers involving personnel may require prior approval from the agency.
- Sometimes the Grants Accounting area discovers the need for a transfer and asks the fiscal agent to request a transfer.