Grant and Contract Receivables

Grants, entitlements, and shared revenues that are susceptible to accrual, that is, both measurable and available, and expenditures/expenses that have been incurred but have not been reimbursed. Some such receivables, usually entitlements or shared revenues, should be recorded at the time of receipt or earlier if the susceptible to accrual criteria are met. For other receivables, such as reimbursement type grants, recognition would occur when the expenditure is made. Grant and contract receivables to be reimbursed through another State agency or institution should be reported as interagency receivables. Questioned costs or expenditures incurred in excess of grant and contract provisions should not be considered receivables of the State unless authorized by the grantor.