Grant Accounting with Cost Allocation Business Process Flow Step-by-Steps

The business process flow outlines the steps an agency is required to take for a grant award from the time of receipt to the time of completion. On the following pages, the detailed procedures are provided for each of the eleven steps of the business process flow.
 

1. Record the grant award in the federal budget code of the North Carolina Accounting System (NCAS). 
2. Record the annual budget in the federal budget code. 
3. Record the life-to-date budget in the operating budget code. 
4. Record the certified and authorized budgets in the operating budget code. 
    Make adjustments for any remaining balances to true-up the prior certified budget.
5. Record the expenditures in the operating budget code.
6.  Record the cash requisition in the operating budget code. 
7. Record the federal fund drawdown of cash in the federal budget code. 
8.  During the month, record the: 
    a. estimated cash transfer from the federal budget code 
    b. estimated cash receipts in the operating budget code
9.  Run cost allocation. 
10.  The cost allocation system will generate the federal funds payable and operating fund receivable. 
11. Once the cost allocation has run: 
    a. Record the net cash transfer from the federal budget code. 
    b. Record the net cash receipt in the operating budget code.
 
 
 
 
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