Over the past year, all of the university policies referencing the federal cost principles (OMB A-21) or administrative requirements for awards (OMB A-110) were updated to incorporate the
Once an award is fully executed, a contract control account is required to segregate the funding. The unit or service center is responsible for the creation of the control account.
Distinct accounts or sub-accounts can be established based on the project's financial management needs.
Establishing Accounts in KFS
The following KFS Standard Operating Procedures define the use of Account and Sub-Account attributes:
Anyone in a service center role is required to complete the Accounting Certification Program within 18 months of employment and re-certify every 3 years.
The Accounting Certification Program (ACP) helps employees develop and enhance accounting skills and knowledge by providing an overview of the accounting function, as well as detailed training on the use of specific accounting tools and their associated policies and procedures. The ACP is constantly growing/changing. As core courses become available, you can take them individually and apply them to the certification.
This course is a prerequisite for FIN 115, Sponsored Financial-Financial Reporting Dashboard (Sponsored Financial Activity) and FIN 116, Sponsored Financial-Post Award Administration Requirements (Online Modules).
This two-part course provides a foundation for managing sponsored projects.
