Billing and Collections
Invoicing the Sponsor
With the exception of the following grant/contract types: industry clinical trial, contingency payment, and sample testing, which may be invoiced by the department conducting the study or the Clinical Trial Finance office; VCU has designated G&C as the only office authorized to submit invoices for externally funded sponsored programs. However, it is always the joint responsibility of the Principal Investigator and their associated department administration to have backup documentation substantiating the allocability, allowability, and reasonability of all expenditures on sponsored programs.
Additionally, it is critical that PIs and departments monitor the expenditures on their awards and ensure any deficit is resolved in a timely manner. Failure to do so will result in the inability of Banner to properly bill and collect deposits for the associated grant or contract.
Collection Procedures
G&C has internal escalation procedures when a sponsor has not remitted payment up to 90 days. These include contacting the sponsor via phone, email, and sending formal follow-up memos signed by G&C management.
If payment is not received within 90 days, the outstanding bill will be referred to collections, and the Office of University Counsel will become involved.