Anticipation Funds & the GC70 System
Anticipation funds should be requested when there is a delay in award execution, but a high degree of certainty that the project will be funded. The unit may begin spending after all regulatory and compliance requirements have been met. Using anticipation funds is a best practice to minimize the number of cost transfers onto an award. The university unit that owns the anticipation fund is responsible for covering the costs if the anticipated grant or contract is not awarded.
Most federal agencies allow pre-award costs up to 90 days prior to the formal starting date of a grant, provided that incurring these costs is necessary to conduct the project. Some agencies do not allow costs to be incurred before the project start date regardless of when the formal notification of award is received. Before requesting an anticipation fund, units are responsible for knowing whether pre-award costs are permitted by the sponsoring agency, or if prior approval is needed.
Be certain to review the Regulatory Compliance & Safety information from the OVCRI website prior to starting any project work. For example, certain protocols must be in place to conduct research using animals, people, personal information, or human specimens.
Requesting an Anticipation Fund
In order to request an anticipation fund, use the online GC70 system. Use the Institutional Proposal (IP) # to initiate this request.
When you attempt to log into the system, you will be prompted to fill out a request for access. Once this request has been approved and processed, you will be able to use the same link to log in and initiate the request.
The start date on the anticipation fund request should typically be the current date, or when you intend to begin spending the funds. The end date should typically be 90 days after the expected start date. The anticipation fund will expire 90 days after Banner entry, as noted in the Status Date in FZAGRNT. If the award hasn’t been fully executed by the end of the 90 days, you will need to request an extension through the GC70 system. Please keep in mind that if the proposal is not funded or the award has a conflicting effective date, all unallowable charges must be promptly transferred to an unrestricted departmental fund.
Transition from Anticipation to Awarded fund
The anticipation fund will become the “permanent” fund after the award is fully executed by SPA. Once the fully executed award detail is entered in Banner, Award Management will send an Executed Award Notice to the business manager.
Continuations & Overdrafts on Existing Funds
If an award will continue with additional time and/or funds and an award modification is pending, please process a GC70 request using the Grant Code. Please keep in mind that if the modification is not funded or has a conflicting end date, all unallowable charges must be promptly transferred to an unrestricted departmental fund.
Related Documents and Resources
- Anticipation, Expired, or Overdrafted Grant/Fund Request (GC70)
- Anticipation Request (GC70) Training Materials
- How do I set up an anticipation account?
- When is it appropriate to use the GC70 System?
- Can I submit an anticipation request even though the sponsor does not allow pre-award costs?
- What needs to be submitted to SPA prior to requesting an anticipation fund?
- What do I do when one proposal record provides funding for multiple awards?
- Since I have the option to request by Proposal Reference Number or Grant Code, when do I know which to use?
- How do I delete a pending request in the GC70 system?
- Why can’t I find my Institutional Proposal (IP) # in the GC70 system?
- What is the status of my anticipation request?
- How soon can I expect my CFOP after submitting my GC70 anticipation request?
- My anticipation request was rejected. Why?
- My anticipation request is in pending status due to FCOI (Financial Conflict of Interest). When will it be approved and who can I contact with questions?