The Research Accounting Office is responsible for: setting up new grant funds in Banner after proposals become awards; assigning appropriate codes that determine how indirect costs are calculated and distributed; preparing grant billings and recording grant income from sponsors; administering the required effort reporting system for faculty and staff working on grants; ensuring that research accounting operations and university procedures comply with various governmental and sponsor regulations; internal and external financial reporting of research expenditures; and coordination of internal and external audits of research grants and contracts. Research Accounting is also responsible for preparation of the university’s employee benefit rate and indirect cost rate proposals and related space study.