Post Award Process - First Step
Congratulations! You have received an award. Grant Accounting will assist you in administering your award in accordance with the various rules and regulations governing externally sponsored programs.
Click on the links to the left for information that will take you from establishing your FRS Account to properly closing out your program or project.
ESTABLISHING AN FRS ACCOUNT: Beginning the Post Award Process
All externally sponsored programs or projects are required to be set up in the Financial Records System (FRS). This provides a separate account for the management of expenses and revenue for your project or program.
Awards through ORSP will be packaged and sent to Grant Accounting for account and budget set up.
The following procedures apply for those grants, contracts and other restricted funds received by the MSU foundation and to be administered by the University:
- Access the Chart Field form through the following link: New/Change Account Create
- Complete the left side, which includes Fiscal Agent name, Department name and supply the necessary signatures at the bottom. The rest of the form will be completed by the Grant Accounting Office.
- Supply Grant Accounting with supporting documentation, such as notification of the award, and the approved budget and other documentation indicating reporting requirements. Include a copy of the payment voucher you completed with the Foundation to get the funds transferred to the University.
Once Grant Accounting has received the Chart Field Form and supporting documents, the process to establish an FRS account number will begin.
Grant Accounting will set up the budget in the FRS and will notify awardees of the account number. Grant Accounting is ready to work with staff and faculty who have questions with their budgets or financial records and assist in making necessary adjustments. It is important for faculty and staff to meet with Grant Accounting regularly and to review their accounts at least monthly.
After the Account is Created:
You will receive an email advising you of the FRS account number. FRS security access for the person listed as the account Fiscal Agent on the Chart Field request form will be reviewed, defined and/or adjusted, as needed. To setup account access for department requisitioners or other users please complete the FRS/PeopleSoft Finance Security Access Request Form. This form can be found at: FRS Application. For additional information on FRS or FRS training, please visit Financial Systems web-site or contact Financial Systems Administration at ext. 7373.
An initial meeting is required with Grant Accounting to discuss your budget, advise you of your fiscal responsibilities and answer any questions you may have.
If the grant includes indirect costs, and you have never received an indirect cost allocation before, a second Chart Field Form with the left side completed and signed must be submitted to Grant Accounting where the remainder of the form will be completed. The Chart Field form can be found at: New/Change Account Create
Once the indirect cost allocation account is established you will be advised of the FRS account number. The indirect cost account is administered by the university budget office – any questions related to this account should be directed to them. Funds in your indirect cost allocation account may be used for any purpose for which general University funds may be expended, except for increased compensation to the principal investigator.