Project Grant Inactivation Process
Departmental Responsibilities
- Ensure that any balance/overdraft on the Statement of Activity by Project Grant is transferred to another set of chartfields.
- Request that the appropriate Financial Operation fund area(s) inactivate or re-map all ShortCodes that include this Project Grant.
- Affirm that any payroll paid against a ShortCode that contains this Project Grant has been moved to another ShortCode.
- Affirm that all outstanding accounts payable amounts against the Project Grant have been paid and there are no other pending AP transactions (PO or Non-PO).
- Update default chartfields for any Pcard that defaults to the Project Grant.
- Notify service units of either a change in chartfields/ShortCode or cancellation of service, whichever is appropriate.
- A request must be in writing to the appropriate fund area to inactivate the Project Grant with the exception of Sponsored Programs.
Financial Operations Responsibilities
- At a minimum, the request must be in writing and retained by the appropriate fund area should questions arise regarding the circumstances of the inactivation with the exception of Sponsored Programs. Sponsored Programs will automatically inactivate a Project Grant once all reporting requirement needs are satisfied. Whether or not the Project Grant Request (Add, Change or Inactivate) form is required is at the discretion of the fund area.
- Confirm that the department is aware of their responsibilities noted above.
- Confirm that the Project Grant has a zero balance/overdraft on the Statement of Activity by Project Grant with the exception of Plant Extension managed project in the Construction Fund. Also, there should be a zero balance on the Project Grant Budget Report if currently using the budget module (This currently applies to Flint).
- Confirm that the Project Grant is not currently used on any balance sheet transactions with the exception of institutional and balancing cash accounts (the two should net zero). Again, this will not hold true for the Plant Extension managed projects in the Construction Fund.
- Inactivate the Project Grant. In addition, inactivate or change the mapping of the associated ShortCode(s) in a timely manner. Project Grants should always be inactivated effective the first day of the next month as a new effective dated row.
Financial Reports Responsibilities
- Review all inactive Project Grants (on a monthly basis) to ensure that no inactive Project Grant has a balance/overdraft and all affected balance sheet accounts are zero. If a Project Grant has been inactivated improperly, Financial Reports will then coordinate with the appropriate fund area to determine where the balance should be moved.
- Coordinate and communicate Financial Operations general policy and procedures for inactivating Project Grants, as they are further developed and/or modified.