In response to the current COVID-19 epidemic, all university-sponsored travel is suspended until further notice. This includes class activities, athletic endeavors, conference attendance, as well as all travel related to research activity at IIT. Additionally, the University has implemented an "essential spending only" mandate to ensure financial stability going forward. Spending may continue on research grants, but expenses will be subject to further review on non-grant related fund balances.
The Grant and Contract Accounting team is working closely with OSRP, Purchasing, and Finance to ensure up to date research and financial information is relayed during this unprecedented time. Communications sent by the OMB and other governmental agencies are being watched carefully, to ensure pertinent information is passed on to all faculty and staff. Please continue to monitor IIT office webpages for further updates and look for emailed communication. The University website www.iit.edu/COVID-19 contains up-to-date information and shared university communication regarding university plans and policies as well as important information from government authorities regarding COVID-19. For questions related to these nuances please feel free to reach out to the Senior Director Arielle Augustyn.
The Grant and Contract Accounting (GCA) department provides accounting and financial compliance services for sponsored projects awarded to the Illinois Institute of Technology (IIT). In addition GCA oversees compliance with University policies and procedures, as well as federal and non-federal rules and regulations required by various funding agencies.
GCA's main functions include, but are not limited to:
- Banner post-award setup and notification
- Grant financial compliance
- Grant reconciliations and financial analysis
- Cost transfer and salary reallocation processing
- Sub-recipient processing and monitoring
- Grant invoicing and financial reporting
- Grant cash management
- Grant and contract closeouts
- Indirect costs
The Office of Management and Budget (OMB) has issued new guidance under Title 2 of the Code of Federal Regulations (CFR), which establishes uniform cost principles and audit requirements for all Federal awards to non-Federal entities, and administrative requirements for all Federal grants and cooperative agreements. This guidance is effective as of December 26, 2014.
The new Uniform Guidance supersedes requirements of OMB Circulars A-21, A-50, A-87, A-89, A-102, A-110, A-122 and A-133.
INFORMATION RELATED TO THE NEW UNIFORM GUIDANCE CAN BE ACCESSED VIA THE FOLLOWING SITES
OMB Uniform Grant Guidance
2 CFR, Part 200 - Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards
Significant Changes since Oct 2019 (PDF - 105 KB)
- FDP Prior Approval Matrix - NSF - DEC 2018
- NSF Significant Changes: https://www.nsf.gov/pubs/policydocs/pappg20_1/sigchanges.jsp