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Grant and Contract Accounting

Given the rising incidence of COVID-19, 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.  The Grants Contracts and Accounting team is working closely with OSRP, Purchasing, and Finance to ensure cancellations and related fees are managed accordingly.  Please reach out to your appropriate RAS team member for assistance with cancellation fees on grants.

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

Grant Review Toolkit - Post Award Process

IIT Financial Statements and Federal Single Audit Reports

http://web.iit.edu/controller/financial-statements

Office of Management and Budget (OMB) Uniform Guidance

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
www.whitehouse.gov/omb/

2 CFR, Part 200 - Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards
ecfr.gov/cgi-bin/text-idx?node=2:1.1.2.2.1&rgn=div5

National Institute of Health (NIH) Grants Policy Statement
National Institute of Health (NIH) Updates
 National Science Foundation (NSF) Proposal and Award Policies and Procedures Guide (PAPPG)
National Science Foundation (NSF) Updates
U.S. Department of Energy (DOE) Grants Policies and Guidance
National Endowment for the Humanities (NEH) Grant Management