Award Monitoring

The Principal Investigator (PI) is responsible for conducting sponsored projects that generate independent, high quality, and measurable results. In this role, the PI is responsible for the management and integrity of the programmatic design, reporting, conduct, managing, compliance and monitoring of the sponsored project, as well as ensuring the integrity of any collaborative relationships.

 While funding is officially awarded to the institution, the PI is primarily responsible for the following:

  • Ensuring expenditures are in compliance with the terms and conditions of the sponsored award agreement, University policy, and applicable federal, state, and local laws/regulations.
  • Ensuring expenditures are consistent with and do not exceed the budget established in the sponsored award agreement.
    • If not, determining re-budgeting needs or make adjustments for overdrafts.
  • Managing costs/expenses within the project start and end dates.
  • Signing off timely on regular Time and Effort Certifications initiated by the Grants Management Office (GMO).
  • Clearing all open commitments and ensuring that Sub-award invoices are finalized prior to the filing of the final financial report.
  • Coordinating end-of-award action items with OSP such as requests for no-cost extensions or carryforward of unexpended balances.
  • Preparing and submitting programmatic reports and financial reports (with GMO assistance) to the sponsor within the timeframes established in the award agreement or notification.
  • Retaining financial records according to the sponsored award agreement and the University’s Records Retention policy.

The Grants Management Office (GMO) and the Office of Sponsored Projects (OSP) are responsible for supporting PI’s and their staff to meet all the compliance requirements. Although the PI may delegate responsibility for day-to-day financial management of a sponsored project to others within their department or unit, the Principal Investigator must exercise appropriate oversight of the overall finances of the project.

To assist with financial management, each PI receives a weekly Crystal financial report (W857 Report) that provides expenditures and funding activity. Please contact Barbara Neal to be added to weekly financial report (W857 Report) e-mail distribution, as well as for tutorials on how to read and drill down on the financial reports.