Advance Accounts
Advance accounts are funds that are created on the Banner financial system prior to receipt of actual awards from external sponsors. These accounts represent a convenience to investigators for the purpose of initiating program activities. Use of advance accounts will be approved only when investigators can provide reasonable evidence from a sponsor that an award is imminent (e.g., notice from sponsor, e-mail from program officer).
Because of the additional risk involved with incurring program expenses prior to the receipt of awards, advance account requests must be approved by the appropriate department head. The Provost’s Office will determine the source of funds to be used in the event that an award does not materialize. Investigators who need to have an advance account created should use the "Institute Prior Approval System (IPAS)" form. Once completed and approved, the form containing original signatures should be forwarded to the Office of Research Administration (ORA). Copies of any supporting correspondence from the sponsor should be attached to substantiate the request. Approved forms will be forwarded by ORA to Research Accounting for creation of a Banner fund and notification to both the investigator and ORA of the number created.
Questions regarding the establishment of advance accounts should be addressed to ORA.
Maintained by webmaster@wpi.eduLast modified: April 24, 2008 11:08:01