APS 1005 - Sponsored Project Revenues

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Policy Profile

Policy Title: Sponsored Project Revenues 
APS Number: 1005
Effective: January 17, 2013
Approved by: President Bruce D. Benson
Responsible University Officer: Vice President and Chief Financial Officer
Responsible Office: Office of University Controller
Policy Contact: The appropriate campus Controller, who will consult with the University Controller as appropriate, will respond to questions and provide guidance regarding interpretation of this policy.  Any exceptions to this policy must be approved by the University Controller.
Supersedes: APS Sponsored Project Revenues dated February 1, 2008
Last Reviewed/Updated: January 17, 2013
Applies to: All campuses

Policy Snapshot

Brief Description:  Sets forth the authority and responsibility for identifying external funding that is required to be accounted for as sponsored project revenues.

I.  Introduction

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.

II.  Policy Statement

Sponsored Project revenues arise from awards from an external sponsor that both restricts the use of funds or property and stipulates conditions with which the university must comply.  All sponsored project revenues are required to be recognized in accordance with this policy and related procedures. 

If an award meets the criteria specified in the Revenue Definition and Recognition procedures, then it is likely a sponsored project 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 award is not a sponsored project, then they will direct the organizational unit to the campus accounting office to establish the appropriate non-sponsored project fund. 

III.  Procedures, Forms, Guidelines and Resources

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

IV.  Definitions

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

V.  History

  • 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

VI.  Key Words

Sponsored, project, revenues, external funding, foundation, research