Grants Accounting

Grant Record Retention

The Grant Accounting Record consists of the following documents:

·           Grant Agreement/Award letter

·           RANF and Budget

·           Initial Checklist

·           Financial reports

·           Journal entries and other correspondence

·           90-day Close-out Checklist

·           Final financial report

·           Other close-out documentation

The GVSU On-Base System will be used to maintain and store all
grant records in electronic format until the time of disposal.   

Grant accounting records will be maintained according to
the period of time specified in the grant agreement. If such
period is not specifically identified in the grant agreement,
the following guidelines will apply:
  
Type of Grant
Retention Period
Authority
Federal or Federal passthrough
Three years from the date of submission of final expenditure report
2 CFR 215, OMB Circular A-102
State or State passthrough
Seven years from the date of submission of final expenditure report
State of Michigan, Department of Management and Budget
Local or Local pass-through
Seven years from the date of submission of finalexpenditure report
GVSU Financial Retention Guidelines
Non-governmental grants (includes non-exchange grants)
Seven years from the date of submission of final expenditure report
GVSU Financial Retention Guidelines

Page last modified March 31, 2010