Policies & Procedures


 

Section: C&G
Part: POL
Statement No.: 4.2.1
Date: 07/07/08
University of North Carolina - General Administration
Administrative Policies and Procedures Manual
Title: Post-Award Monitoring and Account Reconcilation

Contract and grant accounts should be monitored on a continuous basis and reconciled monthly to ensure only allowable costs are charged to a specific account and that all project-related costs are charged to the specific account.  The monitoring process includes pre-audit review of proposed expenditures at the department, PI and contract and grant accounting levels.

 

The departmental bookkeeper or project accountant is responsible for conducting the initial pre-audit review and the monthly reconciliation.  The financial records of the department should reflect the monthly reconciliation was conducted.