Funding in Anticipation of Award Policy
Effective Date: 11-01-2008
PDF Version
Funding in Anticipation of Award Form

1. Background
2. Purpose
3. General Statement
4. Policy
5. Definitions
6. Accountability
7. Annual Review of Procedures Manual

I. Background

Florida Atlantic University is required by OMB Circular A-110 (Relocated to 2 CFR, Part 215) to consistently and uniformly administer sponsored projects.

II. Purpose

Project accounts are established for all federal and non-federal sponsored programs. The purpose of this policy is to establish uniform procedures for both Federal and Non-Federal intended projects, in order to provide guidance in establishing project accounts and budget authority based upon evidence of intent received from the sponsor.

III. General Statement

The Office of Sponsored Programs is available to answer questions and provide assistance regarding the requirements of the Funding in Anticipation of Award Policy.

IV. Policy

At times, the Principal Investigator (PI) may need a project account and the associated budget authority to be established prior to FAU receiving the official award notification or executed contract from the sponsoring agency.

The PI may request for a project account to be established in anticipation of the official award notice by submitting a request in writing to the Director, Office of Sponsored Programs. The request must include the following:

• Title/Description of the anticipated grant or agreement
• Anticipated award/agreement amount
• Amount/budget requested for the administrative funded account
• Anticipated award period
• A banner index that can be used as collateral in case the new project does not get funded.  Note:  The index used as collateral cannot be another grant. The index must be a GTAIDS or research overhead account.
• Signatures from the PI, Department Chair and College Dean or representative are required
• Evidence of the sponsor’s intent must be submitted with the request

Note: Approval

• Approval of the request for a project account is subject to review of the information provided.
• Approval of the budget for the project account will be limited to the amount stated as collateral.
• Establishment of a project account by the Office of Research Accounting is subject to the approval of the request referred to above. The account will be set up in Banner as if the project was funded, but can only be approved for a period not to exceed six months, unless approved for a longer period by the College Dean or his/her designee and the VP for Research.

Award Notification Received: Once the award letter is received, the Office of Research Accounting will review the award letter to assure that no modifications are required in the set up of the account in Banner.

Award Notification “NOT” Received: If the project does not get awarded or the contract is not signed, all expenditures incurred will be transferred to the collateral account.

V. Definitions

VI. Accountability

The Principal Investigator is responsible for submitting the request for a project account in anticipation of an award. This request must include all of the required information and signatures.  The Principal Investigator, Department Chair and College Dean are responsible and accountable for compliance with the criteria that is required by this policy.

The Office of Sponsored Programs is responsible for reviewing and approving all administrative funding requests based upon the criteria set forth in the Funding in Anticipation of Award Policy. 

VII. Annual Review of Procedures Manual

The Funding in Anticipation of Award Policy will be reviewed annually.