850.1 Personal Services Accounting Grants & Contracts
Section 800: Financial Affairs
Effective: July 25, 1984
Revised: April 2016
Review Date: April 2018
Responsible Party: Vice-Chancellor for Finance and Administration
This policy and procedure is written to assure compliance with Federal Regulations concerning personal services expended on federal grants and contracts.
All reporting of personal services expended on Federal grants and contracts must show percentage of effort expended on each individual grant or contract.
- All employees being paid from a Federal grant or contract are required to complete a Time & Effort Certificate on a monthly or quarterly basis. Students and extra compensation payments are excluded.
- The employee will complete a Time & Effort Certificate either monthly or quarterly (dependent upon their grant). This form will be signed by the employee and their supervisor. A copy of the form will be submitted to Business Services for inclusion in the grant file. This will be done within 30 days after the end of the grant period.
- Business Services will verify that the various charges to indexes are in agreement with the Time & Effort Certificates. This will be done within 60 days after the end of each grant period.