Sponsored Accounting Policies
The Sponsored Accounting Policy on Cost Sharing and Matching on Sponsored Projects provides guidance to University staff on the use of University funds toward the conduct of externally funded research projects to ensure they comply with federal regulations and agency guidelines, especially Office of Management and Budget (OMB) Circular A-21and A-110, which require entities to properly account for cost share and matching.
The Sponsored Accounting Cost Transfer Policy for Sponsored Awards establishes the requirements for recording cost transfers of expenditures among externally funded projects or between University cost centers and the externally funded project on the financial accounting records of the University in accordance with a proper system of internal financial accounting controls and federal regulations.
The Sponsored Accounting Policy on Effort Reporting (Payroll Distribution and Certification of Effort on Sponsored Projects) is intended to ensure that the University complies with the Office of Management and Budget Regulations, specifically OMB Circular A-21, with regard to payroll distribution and certification of effort. The policy provides information on proper procedures for payroll distribution on sponsored projects, including required authorizations on HR/Payroll paperwork and certifications for faculty and staff working any part of their time on federally sponsored projects.
Note: All federal grants and contracts are governed by OMB Circular A-21 entitled “Cost Principles for Educational Institutions.” OMB issued a clarification dated January 5, 2001, which stated that any effort committed in the proposal, compensated or not, must be tracked in the University’s Effort Reporting System.
The Sponsored Accounting Policy on Participant Costs provides guidance on when indirect cost allocations for non-employee related expenditures such as transportation, stipends, per diem, and other participant (i.e., trainee) costs are applicable to sponsored projects.
Consult the Georgetown University Sponsored Accounting Office for additional information on accounting policies and practices relevant to the conduct of externally funded research.