10 An award is established on the basis of a signed agreement or a confirmed contribution, except for assessed contributions and internal funding sources such as accruals, where the award may be created up to the amount due (or expected) for the biennium. Award creation, together with revenue recognition, is managed centrally, by the Awards, Revenue and
Donor Reporting unit, Division of Accounts, Department of Finance (HQ/GMG/FNM/ACT).
20 Projects (or workplans) are funded from award instalments. Instalments represent the amount of an award that can be made available for implementation in a biennium. Instalment amounts may be specified in a contribution, or determined by the award manager (refer to section IV.3.4).
30 Awards derived from voluntary contributions are based on signed agreements with donors. All agreements must be electronically filed in Electronic Content
Management (ECM) and linked to the award in GSM. Awards can exceptionally be created without a signed agreement upon receipt of the donation.
40 Awards are assigned a start date, an end date and a close date. These dates are usually specified in the contribution agreement. Implementation may begin from an award's start date (provided that the award has been created). The end-date is the date by which implementation is due to be completed. No new encumbrances can be established after an award's end-date. Encumbrances should be liquidated and payments made by the award end
date but can be cleared up to three months after the end date. All encumbrances should be cleared and PO’s
closed before a final certified financial statement (FCFS) is requested. The close date is a system required date and
is set at 5 years after the end date. The award status can be active, on-hold, at
risk or closed. Once an awards status is
closed, no transactions of any kind can be recorded. An award is closed when
encumbrances and the remaining balance are both zero.
50 The start- and end-dates
for awards from assessed contributions and other accrual awards correspond with
the beginning and end of a biennium.
