How do I underwrite an account?
Institutional Audit Report:
Submit Underwrite Request:
An underwrite (or advance account) is an account that is set up at the department's request in advance of receiving a fully signed award document. The department is required to provide a departmental account that will guarantee all expenses in case the award is not received at Indiana University. Underwrite requests are initiated by the school or unit in the final stages of the proposal process, during the final award negotiations, or before the arrival of the next project period of funding in a multi-year project. The typical underwrite period is 3 months, but may be extended by the underwriting school or unit. Unless there is an issue with research risks, the Office of Research Administration will respond to your underwrite request and provide an account number within 24 hours.
An underwrite is used when an award is delayed and the department wants to charge expenses to the proper account up front instead of using a department account and then transferring charges when the award is received. Auditors continue to give cost transfers close scrutiny. By setting up an underwritten account the department and the Office of Research Administration can ensure the proper fiscal management of the expenditures.
Authorization by the account fiscal officer (or delegate) of the underwriting account is required. Each school or unit sets the routing and approval requirements for its underwriting process.
You may submit an underwrite request for either Bloomington or Indianapolis via the links in the Tool Kit to the right.
The following information should be contained in your request:
- KC Institutional Proposal ID
- KC Award Number
- Project Director Name
- Underwrite Requestor's name
- Requestor's Email
- Requestor's phone number
- Underwriting account number (must be an unrestricted, non-contract or grant account)
- F and A Rate if known
- Underwrite Effective Date
- Study number(s) if research risks are involved
- School or unit approval (if required)
- Emails where account notification should be sent
Important Note: After the proposal is awarded, all expenditures during the underwrite period must comply with the award conditions, the award budget, and the agency restrictions. Expenditures must occur within the award project period (or pre-award expenditure period granted by the agency) in order to remain on the account. Disallowed charges will be the responsibility of the department.