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Research and Trust Accounting

Research Accounting is responsible for managing the post-award functions of financial monitoring, compliance and reporting for all research grants.  Activities include monitoring cash flows and expenditures, communicating with funding agencies, and financial reporting.

This section contains several tools for the financial administration of research funds. Research Accounting works closely with funding agencies, researchers, administrative units and the Office of Research Services to ensure adherence to funding guidelines and policies.

Overview of grant lifecycle: post-award

Grant setup

Once a grant has been awarded, Research Accounting will set up the grant in FAST, the university's financial reporting system. Research Accounting will provide access information, signing delegation and other information to the Principal Investigator (PI).


Eligible expenditures are charged to the grant throughout its lifecycle. PIs are asked to consult the Research Accounting Guideline, as well as Tri-council guidelines, for information regarding eligibility of expenditures. The university has the right and responsibility to withhold payment of ineligible expenses. Research Accounting reviews expenditures to ensure compliance and appropriate supporting documentation. PIs are asked to consult Research Accounting regarding any areas of uncertainty prior to submission of expense reports.

Grant reporting

Financial reporting requirements vary depending on the type of grant and funding agency. Research Accounting will prepare draft financial reports prior to submission to external agencies and review these drafts with the PI(s). Once the PI has approved the draft, Research Accounting will submit the report.

Grant closure

When a grant expires or is terminated, it is closed in FAST.  Research Accounting communicates with the PI to notify him or her that the grant has ended, and to ensure that no further spending can be charged. Residual balances are administered in accordance with the residual funds policy and procedures. Over-expenditures are administered in accordance with the over-expenditures policy and procedures.

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