Grants and Contracts Accountant

Job Title

Grants and Contracts Accountant

Professionals

Full time

7S

Salary

Financial Services

The Grants and Contracts Accountant is an integral part of Furman University's Finance and Administration Division and is responsible for managing the financial administration of externally funded grants and contracts while ensuring compliance with university, sponsor, and governmental regulations. The Grants and Contracts Accountant is responsible for the accounting, monitoring, reporting, and compliance activities related to sponsored research grants, contracts, and other special funding sources.

This position works closely with the Grants office, principal investigators (PIs), department administrators, and external funding agencies to ensure proper financial stewardship of awarded funds.

• Monitor financial activity for federal, state, local, and private grants and contracts.
• Review expenditures to ensure allowability, allocability, reasonableness, and compliance with sponsor requirements.
• Establish and maintain grant and contract accounts within the university's Workday system.
• Reconcile grant and contract accounts on a regular basis based on requirements.
• Track grant budgets and expenditures to prevent overspending or fund deficits. Communication with PIs and departments when overspending occurs.
• Recording of receivables and deferred revenue at year-end, providing detailed listings by grant that make up each total for year-end schedules.

• Prepare and submit financial reports required by sponsoring agencies.
• Generate monthly, quarterly, and annual reporting for grant-funded projects in conjunction with preparing invoices for each sponsor and related documentation requirements.
• Assist departments and principal investigators with budget monitoring and financial analysis.
• Prepare reports for university leadership regarding sponsored programs.
• Prepare annual SEFA-Schedule of Expenditures of Federal Awards.

• Ensure compliance with federal regulations, including Uniform Guidance (2 CFR Part 200), sponsor requirements, and university policies.
• Assist with internal and external audits of grants, including the Single Audit, Research & Development cluster when applicable.
• Maintain supporting documentation and audit trails for all financial transactions.
• Complete journal entries as needed, and grant closeout activities.
• Overseeing and monitoring of time and effort reporting for all grants.

• Assist faculty and administrators with grant budget preparation.
• Analyze budget variances and provide recommendations for corrective actions.
• Ensure sub recipient monitoring analysis is performed and tracked on an annual basis, including SAM.gov debarment requirements are met.

• Coordinate financial closeout of grants and contracts.
• Verify that all expenses have been properly recorded and reported.
• Prepare final financial reports and reconciliations.
• Ensure timely return of unspent funds when required.

• Serve as a financial resource for faculty, staff, and department administrators.
• Provide training and guidance regarding grant accounting procedures and sponsor regulations.
• Work closely in coordination with the Grants Office and Principal Investigators (PIs).
• Works daily with members of Financial Services to plan, coordinate, solve problems, and present information and suggestions related to mutual goals.

• Annual preparation HERD survey.
• Prepare Indirect Cost Proposals.
• Perform physical inventory of equipment purchased with federal funds.
• Drawing down funds from government agencies and sponsors according to prepared invoices and reconciling to the General Ledger.
• Maintain files for each grant/contract.
• Assist the Finance team with backup and coverage for other positions as needed.
• Assists in testing Workday related upgrades and providing training programs for university staff for new or revised processes and procedures.
• Provides support on special projects and data analysis for the Associate Vice President of Finance, Controller, Director…