It is extremely important the the Principal Investigator (PI) closely monitors expenditures to ensure that grant or contract funds are spent according to the proposed plan agreed upon by the funder and the university. Any deviation from the plan (Scope of Work) has to be approved by the Director of Grants in conjunction with the funding agency.

In order to assist the PI in appropriately monitoring use of funds, the following procedures will be followed:

1. PI meets with Grants Office and Business Office to create budget spreadsheet and assign Cost Center numbers
2. As budgeted items are needed, PI fills out appropriate university Business Office forms, secures Director of Grants' signature, and submits to Business Office; Business Office assists with vendor selection and compliance with procurement requirements
3. PI monitors grant personnel Time and Effort Reporting Forms (for federal grants and contracts) and ensure these are submitted to appropriate offices as outlined in the Grants and Contracts Administration Manual
4. PI and Grants Office meet quarterly with Business Office to review expenditures and receipt of payment of ensure project is on target (at least 6 weeks before end of quarter)
5. PI meets with Grants Office and Business Office 6 weeks prior to end of grant period to begin grant close-out activities, and again 4 weeks after grant period to finalize all close-out tasks.