Federal or State Grants & Contracts
Once a federal or state grant or contract proposal has been successfully approved and the Accounting office has been notified, a fund number will be assigned and the Principal Investigator/fund manager will be contacted.
The Principal Investigator has the primary responsibility for ensuring that financial transactions are reviewed, approved and are in compliance with the terms of the grant and the federal/state cost principles. The Accounting office serves as an additional review for compliance and assistance with cost principles.
The federal cost principles and administrative requirements for any new awards or contracts effective December 26, 2014 or after are found in 2 CFR Part 200 Uniform Guidance. For awards and contracts effective December 25, 2014 and prior, the federal cost principles can be found at OMB Circular A-21 and the federal uniform administration requirements are found at OMB Circular A-110. Also see Faculty Grant Information for a complete listing of resources available in support of faculty research.
It is the responsibility of the Principal Investigator to be well-informed of all grant activity. This includes ensuring that:
- Any charges to the federal grant are:
- allowable under both the provisions of the federal guidance and under the specific terms of the award
- allocable, determined that the expense can be associated to the federal project with a high degree of accuracy and certainty; and directly supports the scope of the work
- reasonable, whereby the cost reflects prudence
- Charges to the grant do not exceed available funds
- Salary and wages charged to the grant are consistent with the effort expended by individuals working on the project.
- All federal and College policies are adhered to
Principal Investigators may Contact Us for assistance in reviewing transactions or with questions regarding compliance with federal or state requirements.
See Department Reports for information on fund balance and transaction reports.
See Annual Financial Reports for the most recent OMB Circular A-133 Audit Report.
For more information on the following Federal or State Grants & Contracts topics, please choose from the links below: