Budget & Finance

A sponsored project’s primary investigator has a fiduciary responsibility to ensure that project funds are allowable, allocable and reasonable within the period of performance set forth in the award. Expenditures on an award are always subject to audit by internal and external auditors.  It is essential that expenditures, award modifications and special instructions are diligently recorded and documented. It is the responsibility of the PI and the department or unit to maintain accurate records and receipts for all expenditures.

Faculty members can monitor their expenditures and balances through the PI Portal. Individual projects must be accounted for separately. In some cases, it may be appropriate to split the cost of an item between two or more projects, such as when a large piece of equipment will be used on multiple projects, but in such cases it is crucial that the cost be allocated appropriately among the projects.

The terms and conditions of the award frequently include additional instructions on allowable costs. Some projects will not permit the purchase of any item not included in the original proposal budget while other projects require the sponsor’s prior approval before purchasing certain items. Many sponsors require prior approval for expenditures outside of the terms and conditions of the award, including issuing subcontracts, purchasing capital equipment, authorizing foreign travel, and re-budgeting. Please review the ORA prior approval guidance (PDF) for further information.

Primary investigators should keep the sponsor well informed of any unforeseen problems, adjustments or other revisions to either program or budgets. For more information on extension requests, budget revisions, changes in project personnel, and changes in the scope of work see the ECU Prior Approval Guidance (PDF).

The ORA will notify the PI of pending end dates for each sponsored projects. Primary investigators are advised to anticipate spending and project changes well in advance of the end date. A series of advisory emails will be sent by the ORA beginning with an initial advisory notice sent approximately 120 days from the project’s end date.