Financial Management of Grants
The Director of Accounting, Lorraine Allen, establishes the general ledger accounts for each grant that is awarded to Elon University. The account numbers will be defined to reflect the revenue and expense categories required for reporting to the granting agency. Anyone receiving a grant should schedule a meeting with the Director of Accounting and Director of Sponsored Programs, Bonnie Bruno (email@example.com), to set up grant accounts and review financial procedures as soon as a grant award letter is received. A copy of the proposal, budget, and award letter should be furnished to the Director of Accounting for each grant received.
Frequently Asked Questions about Grant Finances
May I make changes to my original grant budget?
Changes may only be made with permission of the granting agency or within guidelines established by the granting agency. Approvals to make budget changes must be in writing and furnished to the Director of Accounting before the change can be made.
Who is authorized to sign purchase orders and check requests?
The Signature Authority for grants is as follows:
- Including the PI/PD’s signature, department chairs/budget managers may sign up to $999 without further approval.
- Associate Deans may sign up to $1,999 without further approval.
- Academic Deans may sign up to $2,999 without further approval.
- Associate Provost (Tim Peeples) may sign requests of up to $15,000 without further approval.
- The Provost of VP for Business, Finance and Technology may sign up to $24,999 without further approval. For purchases $25,000 to $100,000, the Provost and VP for Business, Finance and Technology MUST sign. When the Provost is not available, the President and the VP-BFT may sign.
- All Pro Card statements must be signed by the PI/PD AND their supervisor. This applies to all expenditure levels.
May I sign a check request that reimburses me personally for expenditures?
No, an individual cannot sign a request for personal reimbursement. The department chair or dean should sign requests for personal reimbursement.