Contracts and Grants Accounting Services is under the direction of the University Controller and is primarily responsible for establishing an effective contract and grant management system to monitor compliance with fiscal and reporting requirements as established by Federal and State law, agency regulations, University policies and procedures and generally accepted accounting principles for all sponsored projects and miscellaneous gifts and grants awarded to the University of Florida except those awards and accounts for EIES and IFAS. In addition, Contracts and Grants Accounting Services is responsible for developing and negotiating the University indirect cost rate including monitoring and reviewing the non-academic activity reporting system, the space allocation system, and compliance with OMB Circular A-21 and the cost accounting standards.