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:
- PIs can 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.
- Sponsor can be billed immediately once UVM receives a fully-executed award document.
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.