The Restricted Funds area of the Controller’s Office supports accounting and business functions related to Grants, Contracts & Sponsored Projects, Gifts & Endowments, and University Designated Funds. Its primary responsibilities include restricted account establishment and maintenance, review of restricted account transactions, preparation of general ledger entries, analytical reviews and reconciliations of restricted accounts, financial reporting, and fulfillment of various internal and external reporting requirements.
Grants, Contracts, and Sponsored Projects
Restricted Funds (RF) is responsible for the post award financial administration of sponsored research grants/contracts and externally funded grants/contracts. RF establishes grant/contract accounts and monitors and reviews all charges to those accounts to determine compliance with both University and funding source regulations. RF prepares and submits invoices and financial related reports to the funding agencies, disseminates financial information to the project investigators and respective departments, manages the grant close out process, and coordinates audit activities for grant accounts. RF also interacts with the Office of Sponsored Programs and is involved in the pre-award process by reviewing and approving the proposal budgets and coordinating contract and/or grant agreement signature execution.
Gifts and Endowments
Restricted Funds (RF) works closely with the Development Office to ensure that gift funds, both endowed and current use, are classified and used for the purposes communicated by the donor when making the gift. RF establishes gift and endowed accounts; is committed to ensuring that the expenditure of gift funds and endowed account spending funds are in accordance with the intent of the donor; verifies that gift accounts and endowed accounts transactions are processed properly and all revenue and expenditures have been correctly coded and recorded; and assures that all transfers of funds are in compliance with donor intent restrictions and accounting rules.
Restricted Funds (RF) establishes university designated accounts and handles all accounting related functions for established University Centers, internal University funding awards, and specific restricted use accounts.