Research Grants and Special Purpose Funds

Approving Authority:	Council
Establishment Date:	26 March 1997
Date Last Amendment:	2 December 2003
Nature of Amendment:	Various
Date Last Reviewed:	December 2003
Publication Reference:
Contact Officer:	Director, Financial Services

5.4	Introduction The single largest category of income other than DEST Operating Grant and HECS is that received from a multitude of sources for specific purposes, eg. competitive and non-competitive research grants from government (Commonwealth, State and Local), industry and private sources. Funds are normally made available following submission of a proposal by university personnel to the granting body, who will indicate the manner in which the funds are to be employed, any special conditions and reporting requirements.
	Principle The university will extend and enhance the national and international research reputation of the university through provision of an environment in which excellence in research can flourish thereby maximising the value of research grant funding. Use of those funds will be optimised to demonstrate a high commitment to successful and effective research and maintenance of the highest standards to enhance funding.
	Procedure 5.4.1 A budget will be prepared by the grant holder for each grant application which is submitted through the Office of Research. 5.4.2 Successful grant applications will be forwarded to the Grants Finance Section who will arrange for allocation of a project code and set up the budget on the finance system. 5.4.3 The extent of budget analysis will reflect the requirements of the granting body and the needs of the grant holder whose responsibility includes monitoring and control of expenditure within the funds available 5.4.4 Expenditure will not be incurred until income is received or a formal written commitment is made by the granting body. 5.4.5 Income when received, will be credited to the account relating to the grant project. 5.4.6 Administrative support to grant holders will be provided by the Grants Finance Section, who will compile a final report to acquit the grant in accordance with the agreed terms of the grant. 5.4.7 Monthly financial reports are run from the University Finance System by the grantholder's cost centre or the Faculty/School Accounts Office. Each grant holder will monitor expenditure to ensure that available income is not exceeded. 5.4.8 Quality control 5.4.8.1 Grants Finance Section will review grant accounting records to highlight: dormant accounts and those with long standing balances; ongoing grants with debit balances; grants with overdue acquittances. 5.4.8.2 Grants Finance Section will initiate corrective action where appropriate. 5.4.8.3 In the event that debit balances cannot be resolved by the Grants Finance Section ie the grantholder has no alternative funds or has left the University, then the cost centre/faculty will be responsible for clearing the account.