Pine Technical College
Policy and Procedure

Policy Number: 401 Date: 10/26/98 Revision Date: 10/26/2000
Division/Department: Fiscal Affairs Author:
Subject: Establishment of Budget for Grants and Contracts

Authorities:

Purpose:
Pine Technical College receives funds from a number of sources to carry out contracts of various types and to conduct grant projects. A key component to effective management of grants and contracts the is quick and accurate establishment of a budget. It is the intent of Pine Technical College that grants and contract budgets be established promptly, that personnel and non-personnel costs be attributed accurately, and that this information be forwarded to the appropriate offices so that accounts may be set up in the MnSCU database.

Policy:
Faculty and staff members who are responsible for writing and/or receiving grants are responsible for setting up a budget for that fund in collaboration with the Business Office and the Human Resource (HR) Office. This budget will be developed so that it may be established in a clear manner in the MnSCU accounting system. It will be the policy of PTC that the account manager or project director do this as soon as a notice of award is released to the College and provide the appropriate information to the affected offices.

Procedure:
In developing the budget for a contract or a grant, the faculty or staff member responsible will coordinate with the Business Office and the HR Office in order to assure that the grant is costed appropriately and that expense estimates are accurate.
On receipt of the notice of award from the granting agency or upon signing of the contract, the faculty/staff member responsible will complete a grant/contract budget request form (copy attached) in collaboration with the Business and HR Office.
This form will be forwarded to the Business Office, so that a budget may be established in the MnSCU accounting system.
A copy of the form will be forwarded to the HR Office, so that the appropriate personnel costs may be established so that HR may make a determination of the salary and benefit costs and the accuracy of budget.
In forwarding this budget, the faculty/staff member will receive signatures from his/her supervisor, the Business Office and the HR Office, in addition to signing the form himself/herself.
The Business Office will establish the account assigned at the appropriate number under the MnSCU system.
HR will set up the payroll distribution according to the information included in the form.
The project director will develop, with assistance from the Business Office, a schedule and procedure for invoicing and billing for the contract or grant.
No funds will be expended or payroll checks issued until this process is completed.
No contracts for services or personnel will be issued until this budget process has been completed for the new account/cost center.

Responsibilities:
Responsibilities are assigned according to the procedures established above.

Dissemination:
Standard dissemination.

Reviewed by Executive Cabinet: Date: 10/26/98
Reviewed by Faculty Senate: Date: 9/2/98
Reviewed by: Date:
Approved: Date: 10/26/98

Pine Technical College Grant/Contract Budgeting Preparation