Fund Setup Process
Initial Award
To set up an initial award in the Banner financial system, Research & Cost Accounting (RCA) requires: the award documents, including all exhibits and attachments; and the proposal documents, which include Rice's Internal Processing Form (IPF), the proposal budget, the budget narrative, the scope of work, and the cost sharing budget (if applicable).
The initial budget in Banner will be the entire project budget, unless there are restrictions on future funding or deliverable requirements by the sponsor. Refer to this chart for additional explanation.
Sponsored Projects and Research Compliance (SPARC) sends the award and proposal documents via email to the Principal Investigator (PI), the Department Administrator (DA), and RCA.
Notice to Department
Once the fund has been set up, RCA sends an email to the PI, DA, Chairman, Dean's representative, and SPARC notifying them that the coding for the newly awarded grant or contract has been entered into Banner and is available for data entry by the department. The email also includes a copy of the Budget Action, a copy of the Fund Text, and any special terms and restrictions of the award. Please review the email and attachments carefully, and contact the person named in the contact box with questions.
Advance Spending Fund
There are occasions when commitments or expenses need to be incurred before a fund has been established. For example, an award document has not been received by SPARC but there is relative certainty that it is forthcoming. In such cases, the Principal Investigator or Department Administrator can, with the approval of their Dean, request an Advance Spending Fund. Using an Advance Spending Fund will allow for proper coding of expenses and reduce the number of cost transfers and salary redistributions.
See Advanced Spending Fund for more information.
Amendments to Awards
To amend an award, RCA must receive an email notice of an amendment from SPARC. RCA staff will then:
- Update Banner screens as needed
- Prepare a Budget Revision Notice of Amendment
- Enter a budget journal entry in Banner
- Email budget revision notices to department