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Extensions and Adjustments

Extensions:

Policy:

The Controller's Office tracks grant fund end dates on an ongoing basis to be sure that P.I.'s and administrative staff are aware of grants that are coming to an end. Grant funds that have end dates approaching within 90 days following the current closed period will be targeted for inquiry. If the grant fund is part of the Women's Center for Research, the Accounting Manager at the Women's Center will be contacted to answer any questions regarding extensions that may be in the works or additional awards we are waiting on. Similarly, the Controller's Office will work with the P.I.'s and department staff on grant funds that are not associated with the Women's Ctr.

At times, it will become apparent that an extension is needed to complete the work on the grant fund. Different sponsors deal with extensions in different ways. Some sponsors require a formal request letter and budget documentation, whereas other sponsors will grant the extension based on an email or online notification. Please be sure to contact the Controller's Office or the WCW Accounting Manager if you are considering requesting an extension on an award.

Procedure:

1. It is extremely important that the Controller's Office be updated on extensions that are in process, or ones that have been granted, before the end date arrives. The Banner Financial System relies heavily on the correct dates being assigned so grants that have ended are not charged in error, and those that are still active do not have charges rejected.
   
2. To process an extension in the system, it is important that the Controller's Office receives a formal letter from the sponsor indicating that the extension was approved and granted. The new end dates and any new requirements, reporting dates, etc. should also be outlined in this notification.
   
3. In the absence of a formal letter, other documentation will be accepted on non-federal awards provided that the information is accurate and contains all of the necessary data needed to set the extension up in Banner.
   
4. Once the extension has been set up in Banner, the P.I. will be notified of the extension, the new end dates, and any new reports or other changes that may have resulted from the extension.

Adjustments:

Policy:

When a new sponsored award is received at the College, the pertinent pieces of information relating to that award are entered into the Banner Financial System by the Controller's Office. This set up is what sets this award apart from any other award in the system. It is also the information that allows us to correctly track end dates, analyze budget to actual reports, and submit timely reports to the proper offices, etc.

Whenever any of this information changes, the Controller's Office should be notified so that the adjustment can be made in the system.

Adjustments of these types would include but not be limited to:

1. Budget Adjustments: either between budget lines or for additional amounts awarded
2. New End Dates
3. New Reporting dates
4. Change of Sponsor Contact or address
5. Corrections on original set up

Procedure:

1. Adjustments made to the set up of a grant fund should be backed up by documentation from the sponsor indicating that the adjustment was necessary, was agreed to, and was granted.
   
2. If the adjustment involves new end dates, a new budget, a change to an existing budget, or additional funds on an award, the Controller's Office should be notified of these changes and receive a letter from the sponsor agreeing to these adjustments. In the case of a new or adjusted budget, a copy of the new and approved budget should be included as well. It is extremely important that budget adjustments be submitted and entered as soon as possible to ensure accurate analysis.
   
3. Other adjustments such as address changes, corrections, etc. can be handled via email request. Please forward any relevant emails or other contact between the parties involved indicating that the adjustments have been agreed to.

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