|Subject:||Deposit of Funds on Contract and Grant Accounts||No. 93-1|
|Date: June 3, 1993|
(Note: This Important Notice is being sent to Account Managers, Chairpersons, Deans and Chancellors. Please forward to others who have a need to know.)
A responsibility of FMS-Contract and Grant Administration is to insure correct and expedient deposit of funds into sponsored program accounts. All awards processed by the research offices indicate that checks are to be sent to Indiana University, P.O. Box 1847, Bloomington, Indiana 47402, but occasionally an agency will send a payment directly to the Project Director. We ask that in such cases these checks for contract and grant accounts, along with any accompanying correspondence, be forwarded upon receipt to FMS, Contract and Grant Administration, Poplars Building, Room 434, Bloomington. The account number to which the payment should be deposited should be indicated, if known. Upon receipt in Contract and Grant Administration, the checks will be entered in a check log for tracking purposes, a Cash Receipts Voucher will be prepared, and the funds will be deposited within twenty-four hours.
A number of problems arise when the above procedure is not followed including: