Sponsored Project Revenues

This policy sets forth the authority and responsibility for identifying external funding that is required to be accounted for as sponsored project revenues.

This policy applies to all employees, associates, affiliates, and other individuals.

Sponsored ProjectSponsored projectsSponsored project awards are "exchange transactions" between an external sponsor and the University under a grant, contract, cooperative agreement, purchase order, or any other mutually binding award that restricts the use of funds or property and stipulates conditions with which the University must comply. The typical sources of such receipts include organizations at all levels of government (local, state, federal, or international) as well as private corporations and foundations. revenues arise from awardsAwardAn award is a promise, both informal and formal, to send resources or revenues to the University. from an external sponsor that both restricts the use of funds or property and stipulates conditions with which the university must comply. All sponsored projectSponsored projectsSponsored project awards are "exchange transactions" between an external sponsor and the University under a grant, contract, cooperative agreement, purchase order, or any other mutually binding award that restricts the use of funds or property and stipulates conditions with which the University must comply. The typical sources of such receipts include organizations at all levels of government (local, state, federal, or international) as well as private corporations and foundations. revenues are required to be recognized in accordance with this policy and related procedures.

If an awardAwardAn award is a promise, both informal and formal, to send resources or revenues to the University. meets the criteria specified in the Revenue Definition and Recognition procedures, then it is likely a sponsored projectSponsored projectsSponsored project awards are "exchange transactions" between an external sponsor and the University under a grant, contract, cooperative agreement, purchase order, or any other mutually binding award that restricts the use of funds or property and stipulates conditions with which the University must comply. The typical sources of such receipts include organizations at all levels of government (local, state, federal, or international) as well as private corporations and foundations. and the organizational unit/CU Foundation/supporting foundation will forward the document to the campus sponsored projects office. The campus sponsored projects office makes the final determination, in consultation with external sponsors, as applicable/needed.

If the campus sponsored projects office determines that the awardAwardAn award is a promise, both informal and formal, to send resources or revenues to the University. is not a sponsored projectSponsored projectsSponsored project awards are "exchange transactions" between an external sponsor and the University under a grant, contract, cooperative agreement, purchase order, or any other mutually binding award that restricts the use of funds or property and stipulates conditions with which the University must comply. The typical sources of such receipts include organizations at all levels of government (local, state, federal, or international) as well as private corporations and foundations., then they will direct the organizational unitOrganizational unitA subset of University operations. An Organizational Unit may be a department or any other distinct operational activity with the following characteristics: • Organizational permanency; • Programmatic autonomy; and • An annual operating budget that is fiscally independent. Within the Finance System, these areas are represented on the ChartField tree as Orgs. to the campus accounting office to establish the appropriate non-sponsored project fund.

Related Procedures

1. Related Procedures
   
   Procedures for defining qualities of sponsored project revenues, for deposit and fund accounting, and for accounting recognition are all found in the relevant procedural statements in the University of Colorado Accounting Handbook:

1. • • Revenue Definition and Recognition procedure
        
2. Resources
   • • Educational resources including guides, training notifications, and newsletters are announced and available on the Office of University Controller (OUC) website.

Italicized terms used in this Administrative Policy Statement are defined in the policy glossary of terms.

• Supersedes: APS Sponsored Project Revenues dated February 1, 2008
• Revision: APS Sponsored Project Revenues dated November 1, 2005
• Original: Accounting for and Deposit of Funds for Non-Government Gifts, Grants and Contracts dated April 1, 1986