Advance Account (AMFK)
In some cases, it is possible to establish an advance MFK before an official award has been processed. When it is certain the award will be funded and that the sponsor will permit advanced spending, an advance MFK request can be submitted to DSP. If approved, Grant Accounting is notified and will establish an account.
Establishing an AMFK allows project spending to post directly to the account and reduces the number of cost transfers that will be necessary when the award is processed.
Without an official award, there is a risk that the project will not be funded as expected. The PI/PIs Department is responsible for any expenditures that are not reimbursed by the sponsor.
When Grant Accounting is notified by the PI/PIs Department that an award is expected to renew, the account will remain open to allow spending to continue.
Renewal awards and applications to continue funded projects may or may not be subject to a competitive review process through the project sponsor and/or the usual routing process through The University of Iowa. See DSP website for more information: http://dsp.research.uiowa.edu/rah/renewal-awards-and-applications-competitive-non-competitive
Without an official award, there is a risk that the project will not be funded as expected. The PI/PIs Department is responsible for any expenditures that are not reimbursed by the sponsor. Renewal awards that are more than three months into the new budget period, but have not been routed (as required) to DSP, will be closed.