PURPOSE

The purpose of this statement is to provide a general summary of information related to budgeting and establishing an account for contracts and grants.

GENERAL GUIDELINES/APPLICABLE POLICIES

Statements pertinent to the budget process for contracts and grants and related subject matter as follows:

Establishing a contracts and grant account

It is the responsibility of the University to separately budget and account for each individual contract or grant. This statement provides information related to establishing a contract and grant account in the University accounting system.

Original Budget

This statement provides general information related to the principles used in establishing an original budget in the University's accounting system; general information related to the budgeting of expenditures at the various object code levels in the award budget; and illustrations of the Automatic Budget Routines used to measure actual financial results against the budget.