Grants & Awards Management
Topics at a Glance
Overview
The Grants Accounting and Compliance team provides post-award related services for all sponsored grants and awards and ensures that the University maintains compliance with terms of the award including all federal regulations. Our information page is intended to be a resource for faculty and staff on post-award areas of responsibility and the relevant guidance and tools required to properly manage grant and award accounting, financial reporting, and compliance. We are passionate about providing superior customer service to the campus community. If you do not find what you’re looking for on our information page please email us at grants@wfu.edu.
Federal Regulations
Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards
Federal agency links
Rates and Facts
General
Federal ID#: 56-0532138
UEI #: MBU6HCLNZ431
Fringe Rates
Fringe Rates: 7/1/2022 – 6/30/2025
- Full-time with benefits: 26.1% (Federal); 28.4% (Non-Federal)
- Part-time with benefits: 18.4%
- Part-time without benefits: 10.0%
F&A Rates
- 7/1/2022 – 6/30/2025: 45.5% MTDC (On-Campus); 20.0% MTDC (Off-Campus)
- 7/1/2017 – 6/30/2022: 45.5% MTDC (On-Campus); 20.0% MTDC (Off-Campus)
- 7/1/2017 – 6/30/2021: 45.5% MTDC (On-Campus); 20.0% MTDC (Off-Campus)
- 7/1/2013 – 6/30/2017: 44.0% MTDC (On-Campus); 23.0% MTDC (Off-Campus)
- 7/1/2010 – 6/30/2013: 41.0% MTDC (On-Campus); 21.0% MTDC (Off-Campus)
Audit
Annual Audit Requirement
Wake Forest University is subject to an annual Single Audit (formerly known as the OMB Circular A-133 Audit) as a non-federal or state entity that expends greater than $750,000 a year in federal and state awards. The annual audit is performed by an independent external accounting firm. The audit is intended to ascertain that the University has maintained effective internal control over the management of its federal and state awards in compliance with laws, regulations, and the provisions of contracts or grant agreements. The audit also tests the integrity of financial transactions and reporting associated with federal and state awards.
Single Audits (formerly A-133 Audits)
Audit & Compliance Office
The University’s Audit & Compliance Office periodically performs audits over the University’s grants in order to ensure proper internal controls and compliance with award documents.
Subrecipient Monitoring
Documents to assist with subrecipient monitoring
FAQ
First, be sure that the Office of Research and Sponsored Programs has copies of all official award documentation. They will review the award documents to ensure that all needed documentation has been received. After their review, the award notification will be forwarded to Grants Accounting and Compliance, along with an official request that a new funding number to be established. Once Grants Accounting and Compliance receives the complete award information, and ensures that all required designation accounts are in place, you should receive notification of the grant account number within two business days.
The process for hiring people, paying bills, etc. is basically the same for a grant as for any other University fund. Wake Forest University policy must be followed, in addition to any restrictions placed by the granting agency (see your award document). For more detailed information, please check Payroll and Accounts Payable, or contact grants@wfu.edu.
If your grant is budgeted for indirect costs, the University distributes the collected indirect costs as follows (for standard distributions):
- 40% to the funded faculty member’s department,
- 10% for use by the faculty member that received the grant,
- 25% to a central matching fund managed by the Office of Research and Sponsored Programs,
- 15% to a discretionary account managed by the Office of Research and Sponsored Programs, and
- 10% to the ZSR Library.
Your 10% return will be put in a separate fund. This money can be spent for any purpose other than additional salary for you.
Forms
Policies
Policies and procedures related to grant/ sponsored program management can be found here:
Please direct any questions to grants@wfu.edu.