Grant Financial Management
The Government and Foundation Relation’s Grant Coordinator - Post Award monitors the financial activity of all grants received by faculty and staff of St. Olaf College.
Government and Foundation Relations can
- Set up a new accounting unit for the grant
- Determine allowable and unallowable costs on grants - according to budget
- Prepare Grant Budget to Actual Reports
- Draw Federal Agency Funds on monthly basis
- Participate in Audit of Federal Awarded Funds
- Provide Post Award Grant Procedures
- Provide Time and Effort training
- Assist with final grant expenditure reports and close grant accounts
St. Olaf policy and procedures for travel and business expense reimbursement are created in accordance with IRS tax laws and legal requirements. We may actually exceed those standards in some situations. When a grant is received, St. Olaf institutional policy prevails over the agency.
National Science Foundation, National Institute of Health, and the Department of Education also have their own set of regulations for grant recipients, as do private granting institutions. As the Principal Investigator/Project Director, it is your responsibility to abide by the rules and regulations pertaining to your granting Agency and the OMB Circulars that bind St. Olaf College: