Or all of the above :-).
At NC State we had a report developed reflecting deposits made external to
our office that likely (but not always) represented grants we needed to
capture. With that report in hand, we used our read-only access to the
grants tracking system (RADAR) to review backup material (such as award
letters) to determine whether we needed to record the payment.
Of course, in these instances, the grant payment would have already been
made so we had a unique payment type for recording these "found" deposits
in our CRM that excluded the transaction from being fed to the GL.
What I really liked most about this arrangement is the ability to really
dig down into the award paperwork often finding awards that were multi-year
in nature allowing us to book very sizeable pledges.
John
John H. Taylor
Principal, John H. Taylor Consulting
2604 Sevier St.
Durham, NC 27705
johntaylorconsulting@gmail.com
919.816.5903 (cell/text)
Serving the Advancement Community Since 1987
On Sat, Mar 9, 2019 at 10:15 AM Bob Swanson <
rswanso@bgsu.edu> wrote:
> Another possibility to discuss with them is allowing you to access their 3
> rd Party AR in a view only mode. If you know who the grant makers are,
> you could look at their activity monthly and update it for your reports.
>
>
>
> Alternatively they have billing and aged receivable reports that are most
> likely in canned format. Some systems allow for you to have the vendor
> field be filled with specific vendors (range or list of them) and then have
> the report scheduled to run periodically. Here we have placed many
> financial and budget reports into a report platform that emails them to
> recipients on whatever schedule the recipient sets.
>
>
>
>
>
>
>
>
>
>
>
> Bob Swanson, CPA
>
> Controller
>
> Bowling Green State University
>
> 1851 N. Research Drive
>
> Bowling Green, Ohio 43403
>
>
>
>
rswanso@bgsu.edu
>
> w 419.372.8597
>
>
>
>
>
>
>
> *From:* Advancement Services Discussion List <
>
FUNDSVCS@LISTSERV.FUNDSVCS.ORG> *On Behalf Of *John Taylor
> *Sent:* Friday, March 8, 2019 8:25 PM
> *To:*
FUNDSVCS@LISTSERV.FUNDSVCS.ORG
> *Subject:* [EXTERNAL] Re: [FUNDSVCS] Tracking Grants Paid by Reimbursement
>
>
>
> You should work out a protocol with your Finance Office to copy you on the
> invoice and have them direct the funder to submit payment to your office.
>
>
>
> In rare cases when the check went to Finance anyway (this happened from
> time to time at Duke), Finance would forward the check to me (they were
> actually one floor above me and would walk it down).
>
>
>
> John
>
> John Taylor
>
> 919.816.5903
>
>
johntaylorconsulting@gmail.com
>
>
>
> Big ideas; small keyboard
>
>
> On Mar 8, 2019, at 7:08 PM, Keleigh Allen <
allenka@plu.edu> wrote:
>
> Does anyone have documentation they would be willing to share of the
> business process for handling the tracking of fundraising from grants from
> private organizations where the grant funds are paid when the institutions
> finance office submits receipts to the granting organization for expenses?
> I've heard these referred to as "Reimbursement Grants".
>
>
>
> Simplified example:
>
> Jane Doe Foundation grants $10,000 to a faculty or staff member for a
> project
>
> Faculty/staff member spends $9,800 on project
>
> Finance/business office submits report of spending and receipts to the
> foundation
>
> Foundation sends a check for $9,800 to the finance office
>
>
>
> We don't have many of these, but they end up causing confusion on a
> regular basis between Advancement and Finance. I'm looking for examples to
> see how others handle the process, especially those where the process is
> working well for you.
>
>
>
> For reference, we are are a small private university and we do not have a
> separate foundation.
>
>
>
> Thank you,
>
> Keleigh
>
>
>
> --
>
> ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
>
> *Keleigh Allen '97*, Advancement Analyst
>
> Pacific Lutheran University | Office of Advancement | Tacoma, WA 98447
>
>
keleigh.allen@plu.edu email |
www.plu.edu/advancement
>
> 253-535-7147 office | 800.826.0035 toll-free | 253-535-8377 fax
>
>
>
> *"PLU seeks to educate students for lives of thoughtful inquiry, service, *
>
> *leadership, and care - for other people, for their communities, and for
> the earth."*
>
>