Hillsborough Community College applies for and accepts externally funded grants and contracts from the following sources: Federal, State, and local agencies, and private foundations.
Hillsborough Community College has an extensive grant application process, which includes a presentation to the President's Cabinet. A final review of the application is conducted by the offices of the College Attorney, the College Controller, and Grants Development. The grant is then submitted to the HCC District Board of Trustees as an “Information Only” item. When the grant is awarded, the Board formally accepts the external funding.
Accounting for grants and contracts is handled in accordance with the Accounting Manual for Florida’s Public Community Colleges, the State Department of Education Green Book, and the Federal Blue Book. HCC manages approximately 100 grants per year. On a monthly basis, a Schedule of Grants is issued which includes titles of grants, department numbers, project managers, awarding agencies, periods of grants, due dates for filing reports, grant amounts, unencumbered balances, last days to encumber, and amounts of indirect cost. Grant activity is monitored on a monthly basis by each grant's Program Manager and the College Financial Services Manager responsible for grants and contracts. Reporting requirements are mandated by each grant (Monthly Report; Quarterly Report) and a Final Report is issued when each grant’s funding cycle is complete. HCC has consistently filed all reports required by external sources in a timely manner.
A Program Manager is selected, based on background and experience, to fulfill each grant program requirements. The HCC Financial Services Manager responsible for grants and contracts reviews all expenditures for compliance with allowable expenses and prepares required financial reports in a timely manner. HCC's current employee in this position has in excess of 15 years experience in grant accounting and reporting and is knowledgeable of Federal and State guidelines. The College Controller has fiscal reporting responsibility and certifies the use of external funds; currently, this administrator is a Certified Public Accountant with over 20 years of experience in auditing and financial reporting in accordance with the United States Office of Management and Budget (OMB) guidelines and non-profit guidelines.
Hillsborough Community College's externally funded programs are audited by the State of Florida Auditor General’s Office (State of Florida Auditor General Federal Audit 2002-2003; 2003-2004; *2004-2005). The audits are conducted per the requirements of the OMB Circular A-133. Full Federal Audit Reports are available on the Florida Auditor General website; they are not issued separately by College.
Hillsborough Community College has an approved Federal Indirect Cost Rate of 35%. All HCC grant applications are required to include a request for the maximum indirect cost rate.
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