Fiscal Management of Awards
There are 4 cornerstones to proper fiscal stewardship of sponsored project awards. Questions are listed next to each rather than definitions. If someone walked up to you (or a newspaper reporter) and asked these questions, could you answer them to defend placing the cost on the award. If so, then it’s a good cost!
- Allocable – Is it a charge you can directly tie to the project? If so, can you explain the benefit to the grant?
- Allowable – Do the sponsor, the feds (A-21) and University allow the cost on the project?
- Reasonable – Would the prudent person agree with your justification?
- Consistent – Is the cost treated the same throughout? If you can’t buy a pen on one grant, it shouldn’t show up on another one.
If you have questions about a cost, please call 425-352-3398 or e-mail Cindy at firstname.lastname@example.org.
Award Kick-off Meeting
Congratulations on your new award! To get you off on the right foot, the Office of Sponsored Research will schedule a meeting with the you (the PI) and the post-award management team from the School or Center. We’ll cover what is allowed with your budget, budget categories, how salaries should be paid, and who is responsible for what. Contact Leena Perera email@example.com for details.
Leena Perera firstname.lastname@example.org is our Budget/Fiscal Analyst Lead who manages quarterly check-ins with investigators. Discussions include challenges PIs may be encountering.
Post Award Fiscal Compliance
Grant & Contract Accounting (GCA) offers resources on post award fiscal compliance.
Reporting and Closing
Reporting on a grant or contract budget is how UW confirms to sponsors that we have used their resources appropriately in accordance with the terms and conditions of the award agreement. Timely and accurate reporting is critical to maintaining good relationships with sponsors and ensuring future funding for the PI, the department and the university as a whole.
All the required reporting is completed through GCA including closing of the budgets. Visit GCA website.
Helpful Links for managing your budgets
- Data Analytics
- Award Management
- Frequently Asked Questions