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Campus Administrative Training Series / Bloomington Financial and Administrative Resource Page
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Contract and Grant Accounts - BC*

Expiring Contract & Grant Accounts (40-59 accounts) 

Activity: Expiring Contract & Grant Accounts (40-59 accounts)
Financial Policy: N/A
Related Policies: N/A
Additional Forms: N/A

Things to Know:

  • Contract and Grant accounts may expire between budget construction and the KFS budget load in late June. Do not request extensions or underwrites to extend the grant account beyond July 1. 

  • If the grant account has another year of funding which is expected to arrive prior to July 1, set the employee’s salaries using the current C&G account during budget construction. If the new account is active prior to the budget load, the system will automatically load the salaries to the new account.

  • If the grant funding ends prior to July 1, with no future project funds expected, the system will load the employees budgeted salaries to the department’s continuation account. ORA will review the budget construction data prior to the budget load and work with departments to resolve employees budgeted to expired projects.

  • Fringe benefits are not calculated on the budgeted salaries in C&G accounts.

  • Do not budget hourly expenses in C&G accounts.

  • Do not budget vacant positions or non-salary expenses such as supplies, travel, and equipment.
  • For more information please contact Bethany Wuensch at bedavis@iu.edu.

*BC - Budget Construction