In addition to the notification directly from your funding agency regarding your new project award, after the formal award has been received by the University ORSP will email you notification of your grant award, along with any other information from the granting agency. In order for Fiscal Affairs to be able to set up a project account specific to this new award, your ORSP grants administrator will prepare an agreement and budget request forms for your signature. These forms include your new project number, and requests Fiscal Affairs to set up the project account and secures your signature on file for that project. If you have someone to whom you would like to give signature authority, that person must sign the agreement form as well.
In some instances, you may receive notification that an agency is going to award your proposal, but the formal notification and/or funds are slow in arriving. In these cases, under certain conditions, ORSP may elect to set up your project prior to receipt of award. See the ORSP Fund Advance policy and Procedure.
Now that you have the project number, you have the ability to spend funds for your project. Arlene Essex can assist you with preparing payment transaction forms; help with understanding and reconciling your monthly project reports; help understand and process your monthly procurement card statement; assist with hiring students and staff; and in general, assist with all of your post-award needs.
We have included a template and an example of an excel budget tracking system for your easy recordkeeping. The detail you post onto the worksheet for each type of expenditure will pull over to the summary page. Click here for a template for budget and expenditure-tracking and here for an example. We can help you set up this recordkeeping for yourself, or if you prefer, we can work with you and keep these records for you.
It is important for the PI to ensure that all expenditures are appropriate, allowable and allocable to each sponsored project. All expenditure transactions must be made within the awarded budget period. Most granting agencies allow a 60 or 90 day period after the project end date in which to finalize payments of expenditures and for Fiscal Affairs to prepare the final financial billing or report.
If it is determined at the close of a project that it is in deficit, it is campus policy that any deficit not attributable to an administrative error or system deficiencies will be the responsibility of the college. It is the current working policy of COSE that these charges will be passed on to the PI department.