Policies that Govern the Management of Grants

Policies pertaining to:

  1. Eligibility to Serve as Principal Investigator (PI) for Funded Projects    
  2. Award Acceptance and Account Set-U    
  3. Receipts and depository of Program Income    
  4. Reporting for Grant Projects    
  5. Authorization of Transactions    
  6. Procurement    
  7. Expenditure management – monitoring performance against the plan       
  8. Direct charging    
  9. Cost transfers    
  10. Effort reporting    
  11. Contracting    
  12. Cost sharing    
  13. Disclosure of Financial conflict of interest.      
  14. Controls and Auditing and;     
  15. Reporting; such that the two (Expenditure and Reporting) are delivered in a clearly defined process 
These Policies are to ensure compliance with the laws and regulations of the organization and of the sponsors such that:
  1. The Award does not contravene the University’s Mission, vision, goals and Values,    
  2. The Principle Investigator (PI) as a permanent Employee of the University and is bound by appropriate employee Contractual agreements    
  3. The amount of money awarded is properly receipted and Banked on the University’s bank account    
  4. Expenditure or Commitment of Funds Against Contracts and Grants Prior to Receipt of an Executed Award are avoided and if it has to happen should be appropriately approved and controlled    
  5. Direct charging and cost transfer of allowable and common costs comply with the approved Budget to avoid over/under expenditure.    
  6. Frequent, late, and inadequately explained cost transfers, especially those involving projects with cost overruns or unexpended balances are avoided.   
  7. Cost transfers should be done timely to avoid questioning of the Institutions propriety of the transfers and internal fiduciary controls, which may result into audit querries and monetary paybacks including penalties and fines    
  8. A periodical review of actual expenses is done to ensure that they are Accurate, Reasonable, Allocable, Allowable and Consistently applied    
  9. Approval of Expenditures for salaries and wages, supplies, equipment, postage, photocopying, travel Official Entertainment follow policy of the Sponsor and that of the University as prescribed in the Financial Management Manual    
  10. The terms and conditions as agreed upon with the sponsor are adhered to    
  11. The changes to the proposal budget should be approved by the funding agency prior to expenditure    
  12. Time and effort policy are followed such that attendance Records, Time Reports and Leave Records for Academic and Staff Personnel are taken into consideration when calculating and reporting effort committed on the research project and the commensurate additional Pay (Stipend) for staff working on the project    
  13. All consultant and service contract arrangements are properly documented and University procedures for determining such arrangements followed.    
  14. The following records are completed and maintained by the Department (Legal) for all consulting arrangements: (1) Employee/Independent Contractor Questionnaire, (2) Signed Contract, and (3) Invoices (with adequate detail).   
  15. Appropriate Human Resource office is contacted for questions concerning consulting arrangements. The Institutions Financial Office approves consulting contracts equal to or greater than a certain amount as set in the Financial and Accounting manual.   
  16. Calculations for Indirect Costs like Facilities and Administration (F&A) are guided by the Sponsor’s and the institution’s policy requirements    
  17. Detailed information documenting the fulfillment of committed cost sharing, including information on project and institutional cost sharing are incorporated into the F&A rate proposal.  The information must be incorporated to ensure that it is included in the appropriate direct cost base in computing the F&A rates.     
  18. Ensure that Integrity is practiced by every member of the Institution such that financial transactions between members of the university and outside the institute are attended to appropriately. This would ensure avoidance of real conflict of Financial interest   
  19. Securing the Services of Independent Consultants and amending an Independent Consultant Agreement is appropriately approved and managed    
  20. Purchasing Goods and Services; Acquisition, Control, and Disposal of Property Owned or in the Custody of the University follows the guidelines of the procurement policy and procedures   
  21. Financial Records Management procedure is documented and is administered according to the policy    
  22. production of annual operating statements and a balance sheet, shows reasonable detailed information that is factual and accurate in all material respects, and is prepared in accordance with generally accepted accounting principles   
  23. That Integrity is practiced to ensure that:      
    1. all financial transactions are done in a more transparent, efficient manner such that value for money to all stakeholders is achieved           
    2. The disclosed financial interests cannot create a conflict of interest that could bias the design, conduct or reporting of sponsored projects.            
    3.  The disclosed interest is managed, reduced, or eliminated prior to the expenditure of any funds under an award.