| VOLUME: III |
POLICIES RELATED TO CONTRACT AND GRANT ADMINISTRATION |
| SUBJECT: |
Underwriting Projects |
| SOURCE: |
Financial Management Services |
| DATE ISSUED: |
October 1990, Revised January 1996 |
| POLICY NO.: |
III-40 |
| RATIONALE: |
To provide an avenue for the funding of a project before the award document is received. |
| POLICY: |
Underwrite requests must be initiated by a school or unit in the final stages of the proposal process if the unit wishes spending for the project to occur. Authorization by the fiscal officer, or their delegate, of the account underwriting the process must be received by the Contract and Grant division of Financial Management Services prior to a Contract and Grant account being established for the project.
After the proposal is awarded, all expenditures which occurred in the underwrite period must comply with the award conditions and budget, agency guidelines and regulations. Expenditures must occur within the award project period (or pre-award expenditure period granted by the agency) in order to be charged to the project. Any disallowed charges are the responsibility of the department. |
| DEFINITIONS: |
An underwrite is a Contract and Grant account that is temporarily backed by a departmental commitment to cover expenses until the award is received from the funding agency. |
| PROCEDURE REFERENCE: |
Underwrite requests can be communicated to the Contract and Grant division of Financial Management Services by E-mail to cgadmin@ucs.indiana.edu, or by Fax to 812-855-7494, or mail them to C&G, Poplars 430, Bloomington.
The following information must be included in the underwrite request:
- I.U. Proposal Number
- Underwriting Account (must be an unrestricted account)
- Budget
- Inception date
- Expiration date (which can be extended at a later time)
- Underwriting Fiscal Officer Approval
- Departmental Approval
Underwrite Requests forms are available should you need one by contacting C&G through one of the above means. |
| CROSS REFERENCE: |
See Contract and Grant Administration Important Notice 95-8. |
| RESPONSIBLE ORGANIZATION: |
Financial Management Services |
