Setting up the Budget
The budget established at the time of the award should reflect the required expenditures to complete the project. ORSP will work closely with the PI to ensure that he/she understands the award budget, the sponsor’s requirements, and allowable expenses. Once established, expenditures within each line item category cannot exceed the budget unless a budget transfer is made (see budget revisions). Although ORSP monitors grant activity, each PI should monitor his/her awards through reports available in the Datatel Distributed Financials system.
- Once the grant award has been formally accepted, ORSP will request that Grants Accounting establish a cost center for the award and, under that cost center, establish budgets by line item categories based on the approved award.
- ORSP will request PI access to the award cost center through the Datatel Distributed Financials system.
- ORSP will then contact the PI and set up a meeting to discuss the award conditions based on the funding agency guidelines.
- ORSP will assist the PI in managing his/her grant account. In particular, ORSP will advise PI’s on purchasing, travel, personnel and accounting procedures.
- The PI is responsible for ensuring that the award remains within the budget.