Office of Research & Sponsored Programs
Ferris Library for Information, Technology and Education (FLITE)
Ferris State University
1010 Campus Drive, FLITE 410 D & F
Big Rapids, MI 49307
Check Points for Implementing and Reporting on Grant Funds
Notification of Award
A copy of the award notice, or letter of award, needs to be sent to:
420 Oak Street, Prakken Room 254
Big Rapids, Michigan 49307
Phone: (231) 591-3903
FAX: (231) 591-2975
Review the Award letter: Does the award meet the needs of the principal investigator? You may be awarded less money than you asked for and you may be asked to submit a revised budget to the funding agency. Ask yourself, can I meet my proposal goals with the amount awarded?
Obtain appropriate approvals: Read the instructions on the award acceptance form. This form must be completed by authorized university officials before the award can be accepted by the university. Also, in some cases, the Board of Trustees must approve a grant award. Call the Accounting Office at (231) 591- 3903 for further instructions.
Determine if there are additional contractual requirements regarding the grant. Is there a standard contract included in the award letter? All contracts must be signed by the Vice President for Administration and Finance.
Determine if there are outside consultants or other professional services involved that would require contractual agreements. If so, call the Accounting Office at (231) 591-3903 for further instructions.
Does your project involve research? Consider the following:
Grant Reporting requires the use of specific fund numbers and each grant must be separately accounted for.
Once an account number is established, the budget will be loaded. The Accounting Office will notify the authorized signer once the account is opened.
Report Requirements: Call the Accounting Office. We will walk you through the reporting requirements of the grant. Who will be reporting on the status of the grant? What information will be required? Please contact the Accounting Office at (231) 591-3903 to determine the appropriate notification and reporting process.
Matching Funds: If a grant calls for the use of matching funds, these funds must be identified and encumbered or moved as soon as available. A review of matching funds takes place when a new grant account is created.
Indirect Costs: Indirect costs are the overhead or administrative expenses incurred by the university when carrying out a grant funded program. Indirect cost rates are a percent of recoverable costs paid by federal or state funding agencies to the university for running a grant funded project. Indirect cost rates are negotiated between the university and these granting agencies. The receipt of indirect costs will vary based on the frequency of request for funds and the expense patterns of the grant. Indirect costs will not be paid for until the appropriate expenses have been charged to the grant.
Request for Funds:TheAccounting Office will request funds for all grants (federal, state, private); any exception will be per agreement. All checks for funds will be made payable to Ferris State University and immediately deposited into University approved bank accounts. It is important to use the appropriate account codes for the receipt of grant money. Federal grant funds have a different revenue code than state grant funds. For questions on which codes to use, contact (231) 591-3903. A copy of the business office receipt will be forwarded to the Accounting Office for audit documentation purposes.