Managing Your Grant / Award
Once you have been awarded your grant RACD can help you setup the contract and manage the finances for the whole life of the project.
You will be notified of a successful award by the funding body either by letter, email or by telephone. At this point, you should contact RACD.
If terms and conditions were known and approved by RACD in advance of the application, an award letter from the funder will generally be sufficient to set up the project. However further contracts may be needed if you have co-applicants or sub-contracts at other organisations or if terms and conditions are not known at application stage. In these cases Contract Negotiations can start. We can provide you with legal advice and assistance with drafting your contract so yours and the University's academic interests are protected.
After negotiations are complete and a signed contract is concluded then you are able to get your Project Setup with an account number and budget statement. This is critical to the award process and you will not be able to spend any money if you have no account.
Once you have a signed/completed contract and an account number you are able to begin spending your award from the actual start date on your contract.
As you spend on your award, RACD has dedicated financial accounting services for supporting and overseeing any transactions that occur. We can also help with financial reports, debt recovery and VAT enquiries for the whole period of your award.