Contracts and Grants Procedure 7 – Deposits to Contract and Grant Funds

All agencies making sponsored research, training, or public service awards to the University are requested to transmit all funds directly to the Office of Contracts and Grants. Occasionally, checks are erroneously addressed to principal investigators or departments. These checks should be forwarded immediately to the Contracts and Grants office for deposit.

Receipts from authorized fees and expenditure refunds are deposited by the principal investigator. Deposit codes are furnished to the principal investigator by the Office of Contracts and Grants. Monies must be deposited with the Cashier’s Office, 151 Mossman Building, no later than the next business day after collection. Deposit slips obtained from the Cashier’s Office are prepared as follows: amount of deposit, six-digit fund number plus account code, who the money was received from, the name of depositor, and a deposit description to help define the nature of the funds being deposited.

Authorized fees must be approved by the awarding agency. If approved, the collection of authorized fees must be handled in accordance with Policy No. 10 and Procedure No.8 of the Financial Services Section of the Policies and Procedures Manual.