Advanced awards are established for the following scenarios:
- Advance of receipt of the official award
- Ability to charge expenditures prior to the official start date of an award.
- Extending the end date of an account
- Allows spending to continue in anticipation of an official action that will formally extend the period of performance.
An advanced fund number can be requested by the unit before the agreement has been signed by the University if sufficient information is provided in the agreement. The advanced fund allows the unit to set up a restricted account and begin incurring expenses at the proposed effective start date of the award.
Sometimes an established account is waiting for an amendment that will add time and/or money. Should the end date of the account expire prior to the receipt of the amendment, a request to extend the end date can be initiated placing the account back into advanced status.
NOTE: The unit is fully responsible for any charges made to an advance account should an award or amendment not materialize. The department is also fully responsible for any allowable costs incurred when the pre-award cost period exceeds sponsor rule.