As the recipient of sponsored funding, the PI has overall responsibility -- fiscal and programmatic -- for the conduct of the project described in the proposal.
This means ensuring that all funds spent under the grant are necessary to the research conducted. The Controller's Office and the Office of Sponsored Research are available to help with interpreting guidelines, but it is ultimately the responsibility of the PI to become familiar with and to comply with the regulations of the particular funding agency. The College's grant activity is audited on an annual basis. The failure of PIs to adhere to accepted practices for the management of grant funds jeopardizes the College's eligibility for future awards.
The PI Handbook outlines the PI's responsibility for project administration and the role of the Controller's Office in grant administration.
When notice of funding is received by the College, the Office of Sponsored Research sends a summary of the terms of the grant and full budgetary information to the Associate Controller, who is responsible for financial administration of sponsored projects, as well as a copy to the PI. PIs should allow one to two weeks for the assignment of the budget number. Awards which require matching funds from the College will take longer to process, since the source of the match must be identified before a number can be assigned. Many federal agencies permit grantee organizations to incur pre-award costs up to ninety days before the effective date of the grant. For information about requesting authorization for pre-award spending, consult section "Changes in the Project" in the handbook.