Administration of External Funding at UM
External funding is received and administered by The University of Montana via numerous mechanisms and nomenclature. Per University Policy 703, the following definitions and administrative responsibility are provided to assist in appropriate processing of restricted funds:
A grant, contract, cooperative agreement, sub grant, subcontract, consortium agreement, purchase order, or memorandum of understanding (hereafter collectively referred to as "grant" regardless of the award mechanism) is an agreement formalizing the transfer of money or property from a sponsor in exchange for specified services (e.g., outreach, research, training, development, instruction), and may require specific deliverables such as documentation of itemized expenditures or technical reporting.
Administration: When an activity (research, outreach, training, service) is 1) proposed and agreed upon via a memorandum of understanding or other institutional agreement specifiying terms and conditions, and 2) external funding is restricted by the sponsor or exceeds actual expenses paid or committed to The University of Montana for deliverables resulting from the activity, these contractual agreements are processed through ORSP.
A gift or donation is a voluntary transfer of money, services, or property (including equipment, intellectual property) from a donor without any expectation of or receipt of direct economic benefit or provision of goods and services from the recipient.
Administration: If the intent of the donor and purpose of the specific funding is charitable and philanthropic in nature, the University of Montana Foundation administers the funding. For more information, see Gift or Grant?
Additionally, there are times when restricted gift/scholarship accounts for academic or student support will be set up in Business Services. Refer to Business Service’s “Index Code Request” information. An operating plan and budget are required.
Sales & Service
Business Services sets up a variety of accounts including Sales & Service.