Financial arrangements
(i) Reimbursement of grant monies will only be made by arc upon receipt of invoices for actual costs incurred. The total maximum value of grant monies which may be claimed will be fixed at the time of the grant award and will be specified in the formal letter of award. Except for personal support for fellowships and studentship holders or any personal awards, funds may be freely moved within all budget headings at the grantholder's discretion, provided that arc Research and Education Department is informed of any changes.
(ii) arc does not pay salary costs which the employing institution may pay to staff during periods of absence due to sickness or injury: as the employer, the host institution is expected to meet these payments. Invoices must be submitted with sufficient detail to verify the costs incurred against the grant award made as detailed in the letter of award. Claims for equipment must be accompanied by copies of the supplier's invoice. The final claim will only be accepted if it is submitted within 12 months of the end of the grant period.
(iii) Grants must be activated within 12 months of the scheduled start date stated in the formal letter of award. The date of activation of the grant is normally considered to be the date of appointment of the first staff member employed under the grant. arc will withdraw an award which has not been activated within 12 months of the scheduled start date. arc will also terminate an award which is held in abeyance for more than 12 months. Any grant lapsed for longer than 12 months must be resubmitted as a new application.
(iv) Claims for reimbursement of the cash expended each quarter should be submitted in arrears. In cases of difficulty, arc's Head of Research and Education Funding should be contacted.
(v) arc reserves the right to ask for confirmation from the external auditors of the institution of the following:
(a) that the annual accounts of the institution have been approved by the auditors without qualification;
(b) that the management letter from the auditors confirmed that proper systems of internal control were in place, and that there were no matters that did or could significantly affect the administration of grants awarded by arc;
(c) that this grant has been used for the purpose for which it was awarded.
(vi) arc also reserves the right to ask auditors of its own choice to request confirmation from the external auditors of the institution of amounts paid by arc in respect of this grant. In addition, arc may, at its discretion and cost, decide to commission a separate audit of this grant and/or the systems used by the institution to administer arc grants, including the system of equipment procurement, and, in so doing, it may or may not seek to use the internal audit function of the institution.
