Office of Sponsored Programs and Research (SPAR)
Forward funding refers to the process by which the College and Research Foundation agree to allow the project director to generate expenses prior to receiving funding from the sponsor. If a forward funding request is approved, the Research Foundation uses the College’s working capital reserve to cover the costs of a project, prior to receipt of funds from the sponsor. In the event that the funds are not received, the College is liable for all costs accrued.
Requests for forward funding apply to:
- Fully executed (signed) grants and contracts
- Grants, contracts, and renewals that are awarded with a known start date and budget but have not yet been executed
Usual reasons for requesting forward funding are to:
Expedite hiring process for new employees
- Prevent breaks in service or termination during grant/contract renewal process
- Expedite purchase of items requiring extensive lead times (special order) or lengthy competitive bidding process
1. The Project Director should contact the Office of Sponsored Programs in order to determine if forward funding is appropriate.
2. The Project Director completes and prints Forward Funding Request Form showing:
- Project number grant
- The Project Director's name
- Start date of grant
- Project budget (budget approved by sponsor)
- Amount of Forward Funding Request
- Date by which forward funding will be returned to the Research Foundation
3. The Project Director submits the Forward Funding Request Form to his/her Dean for approval. (The Provost signs for CAPS, Newman Real Estate Institute, the Mishkin Art Gallery, and other college-wide programs.) In the event that an email confirmation is received from the Dean, but he/she is unavailable to sign, the Provost may sign instead. If the Provost is unavailable the President must sign.
4. The Project Director submits the Forward Funding Request Form to the SPAR Office for signature and submission to Research Foundation.
5. Upon Research Foundation approval, the project’s budget will be set up and an account number assigned.
Last updated: 10/06/2011