Institutional Advance Fund Policy for Sponsored Research Grants
Effective Date: March 1, 2011
Last Reviewed: July 1, 2015
Review by: January 1, 2016
This policy outlines the circumstances in which spending may be allowed on an award that has not yet been granted to Meharry Medical College (pre-award spending), or for a continuing segment of a multi-year award in which the new budget has been delayed (non-competing continuation awards). Advance funds will allow for proper assignment of costs at the beginning of the project, which will prevent improper allocation of expenses to an incorrect FOAPAL, and in turn limit the number of required cost transfers.
According to OMB Circular A-110, grantees can approve costs incurred 90 calendar days prior to the award start date or more than 90 days with the prior approval of the Federal awarding agency; however, the grantee engages in pre-award or advance spending at its own risk. Meharry Medical College will permit pre-award spending (for new awards and competing continuations) or advance spending (for non-competing continuing awards) provided such spending is consistent with the guidelines of the sponsoring agency, the terms and conditions of the award (where applicable), and has been approved in advance by the Dean and Office of Research.
You can view the full policy to the right or by clicking here.