Award Monitoring

The principal investigator (PI) is responsible for the timely monitoring (i.e. monthly) of the financial activity of each award and may request/receive assistance from the responsible departmental unit/account administrator. All awards, including cost share and program income, should be monitored and reconciled on a monthly basis.

GW uses PI Dashboard and the Enterprise Accounting System (EAS) to track and monitor program expenditures on sponsored projects. Account monitoring is necessary to ensure that all charges posted to the project account are accurate, allowable and correctly identified using the appropriate account codes. Award monitoring also facilitates the preparation of accurate and timely final reports during award closeout.

Cost Transfers

Cost transfers that involve grant funds must be completed in accordance with sponsor guidelines and the GW Cost Transfers on Sponsored Projects policy. Cost transfers require a Departmental Correction Form (PDF) and a Cost Transfer Justification Form. All Departmental Correction Forms should be submitted to Office of Sponsored Projects (OSP) using the Accounts Payable Online Submission Form.

Program Income and Cost Share Awards

If a project has a program income and/or cost share award(s), expenditures on these awards need to be monitored carefully.

Program Income

Program income is gross income earned by a recipient that is directly generated by a sponsored activity or earned as a result of the award. These funds should be used to further project or program objectives. At times program income funds may be used to meet a cost share commitment. More information can be found in GW's Managing Program Income Generated on Sponsored Projects Policy.

Cost Share Awards

Cost sharing is the portion of a project or program cost not borne by the sponsor. Cost share expenditures must meet the same criteria as any expense that would be charged directly to the grant (i.e., it must be reasonable, allocable, and a direct benefit to the project). More information can be found in GW's Cost Share Policy.

 

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