The Office of Grants and Contracts Accounting provides post-award accounting and reporting services related to sponsored programs managed by all academic units of the Institute, excluding the Georgia Tech Research Institute.

Once a new award has been granted, the Office of Sponsored Programs is responsible for several management activities. Their expertise ensures that researchers can focus on their work while adhering to administrative requirements and regulations. 

Grants and Contracts Reporting Process


Worktag (G) Number Creation
  • Using Georgia Tech's Financial Grants Management System (Workday), the Grants and Contracts Accounting office assigns a unique worktag (often denoted as a “G number”) for the award.
  • Researchers receive notification that funds are now available for expenditure.
  • Remember, it’s essential not to initiate any effort until the G number has been officially established.
Management and Reporting Stage
  • Once the G number is in place, you transition into the management and reporting phase of your project.
  • During this stage, you’ll need to:
    • Follow Administrative Requirements: These include compliance with institute policies, sponsor guidelines, and relevant regulations.
    • Adhere to Cost Principles: Ensure that expenses align with allowable costs specified by the funding agency.
    • Comply with Specific Terms and Conditions: Each award may have unique terms and conditions that must be met.
    • Monitor Progress: Regularly track project milestones, expenses, and deliverables.
    • Submit Reports: Fulfill reporting requirements as outlined by the sponsor.
       

OSP’s Management Responsibilities 


Setting Up a New Account
  • When a new research award is granted, OSP plays a crucial role in setting up the administrative framework. This includes creating an account for the project within the institute's financial system.
  • The account ensures proper tracking of funds, budget management, and compliance with financial regulations.
Creating an Advance Project Number
  • In some cases, OSP assigns an advance project number to the award. This number helps identify the project and facilitates financial transactions.
  • Researchers can use this project number when making purchases, hiring personnel, or managing expenses related to the project.
Setting Up Subawards and Monitoring Subrecipients
  • If the research involves collaboration with other institutions or organizations, OSP assists in setting up subawards.
  • OSP monitors subrecipients’ performance, compliance, and financial reporting throughout the project duration.
Ensuring Compliance
  • OSP ensures that the project adheres to sponsor terms and conditions, university policies, and federal regulations.
  • Compliance includes ethical considerations, financial management, and reporting requirements.
Providing Training
  • OSP offers training sessions to university researchers. These sessions cover policies, procedures, and best practices related to research administration.
  • Researchers stay informed about changes and updates in regulations.
Handling Project Extensions and Budget Revisions
  • If a project requires an extension or budget adjustments, OSP manages the process.
  • They work with researchers to submit necessary requests and ensure proper approvals.
Fulfilling Reporting Requirements
  • Throughout the project, OSP assists in preparing and submitting required reports to the funding agency.
  • These reports may include progress reports, financial statements, and other deliverables.
Facilitating Deliverables and Non-Financial Reporting
  • OSP helps coordinate project deliverables, such as research findings, publications, or technology transfer.
  • Additionally, they handle non-financial reporting, which may involve documenting project milestones or outcomes.
Closing Out the Award
  • When the project concludes, OSP ensures all final reports are submitted, financial accounts are reconciled, and any remaining funds are appropriately allocated.
  • Properly closing out the award is essential for maintaining good standing with sponsors and ensuring future funding opportunities.
  • Learn more about the closeout process.