Grants arise from exchange contracts in which Marquette University and the grantor each receive and sacrifice something of approximate equal value. The University receives funding from an external organization in which the resource provider expects performance or the receipt of something in exchange for the resources provided. Grant Accounting ensures compliance with university policies and procedures and any governmental or agency rules and regulations. In addition, Grant Accounting establishes restriction numbers (7xxxx series) for new grants, inputs grant budgets, invoices grant agency, coordinates external grant audits, prepares interim and final financial reports, and closes expired grant accounts.
