Receipt of Award
Usually, a sponsor will notify both the Sponsored Programs Office and the principal investigator of an award. Upon receipt of the award, it is a good idea to review the list of responsibilities of all university offices, staff and faculty members involved in a sponsored project.
Because federal agencies have their own terms and conditions, the Sponsored Programs Office has developed a matrix for each four major agencies to serve as a reference tool for researchers: National Aeronautics and Space Administration (NASA), the National Science Foundation (NSF), the U.S. Department of Agriculture (USDA) and the U.S. Department of Energy (DOE).
At this point, the principal investigator will receive all award documents from the Sponsored Programs Office, who will then enter the award in the proposal/award database and authorize the establishment of an account.
For information on the process for accepting an award and setting up a research account, please visit the Sponsored Programs Accounting web site.
Sponsored Programs Accounting will prepare financial reports and invoices throughout the award period, as well as the following:
- Review and monitor project expenditures and cost transfers
- File appropriate close-out documents
- Establish the project budget in the university's electronic accounting system
- Assist in compliance review of expenses in accordance with the university's policies and procedures, and OMB Circulars A-21 & A-110
- Collect outstanding balances on unpaid sponsored billings
- Develop and prepare required financial reports for Michigan Tech administration
- Assist principal investigators in the financial close-outs and terminations of sponsored projects
- Coordinate audits conducted by external and internal auditors, and provide them with all necessary financial information