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 that involve grant funds must be completed in accordance with sponsor guidelines and the GW Cost Transfers on Sponsored Projects policy. Labor cost transfers require a Labor Cost Transfer Justification Form. Non-Labor cost transfers require a Non-Labor Department Correction & Cost Transfer Justification 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 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.