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Cost Transfer Request Form Illinois State University Grants Accounting OMB Circular No. A21 states that, “Any costs allocable to a particular sponsored agreement under the standards provided in
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Grants accounting is the process of tracking and managing financial information related to grants received by an organization.
Non-profit organizations, government agencies, and other entities that receive grants are required to file grants accounting.
Grants accounting should be filled out by accurately documenting the funds received, expenditures made, and any other financial transactions related to the grant.
The purpose of grants accounting is to ensure transparency, accountability, and compliance with regulations in the use of grant funds.
Information such as the amount of grant funds received, how the funds were used, any matching funds provided, and compliance with grant requirements must be reported on grants accounting.
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