You know your award is forthcoming, the sponsor has indicated approval but is delayed. You need to start work or you will fall behind. What to do?
Request an Advance Account be opened. An Advance Account has numerous benefits, such as:
- Begin work on time.
- Project chartstrings remain the same after the award arrives.
- Expenses are charged to the appropriate chartstring initially, resulting in fewer cost transfers and less use of department funds.
- Facilities timely fiscal oversight by the PI and Unit Administrator.
- SPA can invoice immediately once the fully-executed award arrives.
To initiate a request for an Advance Account the PI or Unit Administrator will need to complete the Advance Account Request Form and submit the completed form to SPA using the "request Advance Account" activity the associated UVMClick - Funding Proposal.
Login, find your Funding Proposal and click the activity, "Request Advance Account". The request will be delivered to SPA, who will review and complete the request.
It is important to understand the college, school, or administrative unit where the project resides assumes the financial risk if UVM does not receive or accept the award for whatever the reason or if the terms and conditions of the award subsequently deem certain expenditures unallowable.