Advance Projects (also referred to as Advance Accounts) provide PIs with an opportunity to initiate an activity and begin incurring associated expenses prior to institutional acceptance of an award. Advance projects allow PIs and departments to record and track expenditures and eliminate the need to charge other unrelated accounts.
Advance projects are created in 3 month increments. They should be limited to when there is reasonable evidence from a sponsor that an award is imminent (e.g., notification from sponsor). Because of the additional risk involved with incurring program expenses prior to the receipt of an award, advance project requests must be approved by the appropriate department head. Copies of any supporting correspondence from the sponsor should be included with the IPASS form to substantiate the request.
The requester will need to provide a non-sponsored project number in the event the project is not funded or if the terms of the award disallow certain costs incurred on the project. A budget will be established in ARC for the amount of the guarantee.