Award Spending

The proper administration of an award including award spending is the responsibility of the Principal Investigator (PI) and department. It is important the PIs and departments understand the terms and conditions of the award in order to fulfill the requirements outlined by the awarding agency. PIs are responsible for oversight of financial, scientific, and compliance aspects of the award. PIs and departments exercise budgetary control and ensure that expenditures incurred are within the authorized budget and period and that only those costs that are allowable, allocable and reasonable are charged. Sufficient records to support sponsored project transactions must be maintained, available for audit, and demonstrate compliance with contract terms, UC policy, accounting guidance, and federal regulations.

Contracts and Grants Accounting (CGA) oversees post award compliance requirements, and provides tools and training to help the department in the proper administration of their awards.

Related Key Topics

 

Resources

References

Policies