Progress reports are to be submitted according to each individual grant terms and conditions and fall under the responsibility of the Principle Investigator.
The Gift and Grant Staff Accountant is responsible for preparing financial reports to the granting organizations. Most granting organizations have established deadlines for submission of financial reports. The PI and administrative staff are asked to turn in all expenses in a timely manner especially when financial reports are coming due. It is extremely important for PI’s to be aware of all expenses being paid out of their grant funds and for all grant funds to be spent in accordance with Grantor regulations and Calvin’s policies.
The Gift and Grant Staff Accountant will normally prepare all financial reports; if you or your department prepares a financial report, the Financial Services Office must approve it before it may be submitted to the granting organization.
Government regulations require Calvin College to document the time and effort that faculty and professional staff devote to state and federal grants and contracts. A Time and Effort Reporting Form must be completed once per semester for every federal and state grant and contract where there is a commitment of time to the project. The form provides a record of the percent of effort committed to the sponsored project, regardless if the effort is paid by external funds or college funds. The completed forms will be kept on file with the Gift and Grand Staff Accountant. Please see the Time and Effort Reporting Form and Policy for more information.
It is absolutely essential that Calvin is in compliance with this regulation and the reported time and effort accurately reflect the actual time and effort devoted to the project during the semester. If the reported time and effort do not match what the sponsor approved, please contact the Grants and Foundation Relations Department. If a grant or contract is audited and Time and Effort Reporting Forms are not on file or do not agree with the approved budget, the sponsor may demand that Calvin return all or part of the funds.
Those PI’s to whom this policy applies will receive a Time and Effort Reporting Form from the Gift and Grant Staff Accountant at the beginning of the award period. It is vitally important that these forms are completed each semester for the project as well as all other faculty and professional staff working on the grant or contract. This form must be returned by the end of final exam week each semester.