Can people please post answers to the listserve, I'm also interested in
how your institutions handle invoicing procedures.
Lori

Lori B. Hulak, BA, CRA
Specialist, Grant Writer
Jefferson College of Health Sciences
920 S. Jefferson Street
Roanoke, VA 24031-3186
Phone (540) 985-8206
xxxxxx@jchs.edu

>>> xxxxxx@MCRF.MFLDCLIN.EDU 11/1/2006 5:48 PM >>>
I need help from some Grant Accountants!

For the past 16 years, and probably more, excluding grants paid via
the
Payment Management System, we have invoiced our funding agencies based
on expenses charged on an accrual basis against our federally funded
grant and contract accounts.  Our auditors, who will remain unnamed,
are
telling us for the first time that we should be invoicing for expenses
based on a cash basis (i.e. as expenses are paid).

Does this sound right?  Can anyone direct me to the regulatory
documentation that would be provide guidance on this?  Also, if this
is
correct, how do institutions manage this when their financial
reporting
is on an overall accrual basis?

Thank you!

Deb

***************************************************
Debra K. Hansen
Director of Sponsored Programs and Fiscal Affairs
Marshfield Clinic Research Foundation
1000 N Oak Avenue - 1R3
Marshfield, WI   54449
715-387-9130
xxxxxx@mcrf.mfldclin.edu
***************************************************

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