Compliance Responsibility
The Office of Contracts & Grants, under the direction of the Assistant Vice Chancellor for Business and Finance/Comptroller is responsible for the financial and regulatory administration of all Contracts & Grants awarded to North Carolina A&T State University. This responsibility includes but is not limited to the following:
- Establish and communicate policies and procedures consistent with federal regulations
- Exercise budgetary control of Contracts & Grants fund
- Provide assistance and guidance to university faculty and staff for the financial management of contracts and grants
- Maintain an auditable effort reporting system
- Prepare and submit financial reports and invoices
- Make timely deposits of contract and grant receipts from sponsors and follow up with sponsors on delinquent payments
- Submit final financial reports to funding agencies
- Submit property reports to the Office of Sponsored Programs
- Review transactions for allowability and reasonableness of costs
10. Perform annual sub-recipient monitoring in accordance with OMB Circular A-133
11. Coordinate formal audits or financial reviews of Contracts & Grants by sponsoring agencies
Guidance for the administration of Contracts & Grants is provided from several sources. The primary authorities are:
a) Federal Circular, OMB A-21, http://www.whitehouse.gov/omb/circulars/a021/a21_2004.aspx
b) Federal Circular, OMB A-110, http://www.whitehouse.gov/omb/circulars/a110/a110.aspx
c) Individual regulations from various awarding agencies, http://www.nsf.gov/bfa/dias/policy/rtc/index.jsp
d) Periodic policy guidance from the State of North Carolina
e) Budget manual, Office of State Budget and Management; and
f) North Carolina A&T State University Policies and Procedures
CLARIFICATION OF TERMINOLOGY
Contracts & Grants-The distinction depends only on whether the sponsor or grantor designates the governing document as a "grant" or as a "contract." General definitions are as follows:
- Grants: Funds received from outside sources for the purpose of supporting the public service, research or instruction functions in a specific area of mutual interest to the institution and the grantor. The governing documents furnished by the grantor at the time of such grant awards usually designate the funds as "grants" and specify the degree of accounting and reporting obligations on such funds.
- Contract: Funds received by the institution for specific services rendered to agencies, corporations, or others under negotiated contracts. These contracts are formal written documents which specify the rights and obligations of the parties involved.
- Cooperative Agreements: A "cooperative agreement" is the appropriate relationship between the federal government and a recipient when both of the following conditions are satisfied:
A. The principle purpose of the relationship is to transfer money, property, services, or anything of value to the state or local government or other recipient in order to accomplish a public purpose. Such purpose may be categorized by support or stimulation authorized by federal statue, rather than acquisition, by purchase, lease, or barter, of property or services for the direct benefit or use of the federal government.
B. Substantial involvement is anticipated between the executive agency, acting for the federal government, and the state or local government or other recipient during performance of the contemplated activity.
