TTC's Policies and Procedures > Financial Affairs > 6- 5-2 Federal Funds, Expenditure and Control Of
6- 5-2 Federal Funds, Expenditure and Control Of
TITLE NUMBER APPROVED DATE
FEDERAL FUNDS, EXPENDITURE AND CONTROL OF 6-5-2 4-28-99
 
BASED ON POLICY NUMBER AND TITLE
2-11-0 EP 3: BUDGETING


PURPOSE: To establish procedures for managing the fiscal activities of federal programs.

GENERAL: Each fiscal year, project directors develop budgets for each program in compliance with fiscal guidelines established by the funding agency or source. Expenditures must be made in accordance with established guidelines.

PROCEDURES:

Once a federal agency has approved a budget, the project director will forward the budget to the appropriate vice president, who will in turn forward it to the grants accountant in the Finance Department. The grants accountant will assign an account number and object codes and have the budget entered into the Colleague Financial system.


To modify any budget, the project director will submit a properly authorized Budget Transfer Form (T3-86) to the appropriate vice president, who will in turn forward it to the grants accountant. Modifications must be in accordance with program guidelines.

The project director will follow all college procurement and fiscal procedures.

REPORTING:

The project director is responsible for the accuracy of all documentation submitted to the Grants Director for inclusion in required annual and interim reports. The project director must verify all numerical figures and computations to ensure that financial information (for example, budget narrative) is correct and accurately calculated.


Updated June 26, 2009

 

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