Staff in Sponsored Programs Accounting (SPA) are responsible for the fiscal administration of externally funded projects including grants, contracts, and special projects. Fiscal administration includes:
- Establishing new project accounts on the general ledger
- Setting up and monitoring budgets for grants and contracts
- Reviewing payments to subcontractors
- Resolving deficit account balances when they occur
- Preparing progress billings for grants and contracts
- Preparing cost share account entries and monitoring cost share activity
- Drawing funds for federal grants and contracts as expenses occur
- Working with project sponsors to answer billing questions and other reporting issues
- Obtaining effort reporting certification from principal investigators
- Working with external auditors who perform the annual federal A-133 audit
- Closing out accounts at the completion of a project
Staff in SPA work closely with the Sponsored Research Services Office (SRS) and Principal Investigators to ensure compliance with RIT, federal and state guidelines regarding grant and contract administration.
For more information about grants and contracts, visit the SRS.
To obtain information about cost principles for educational institutions visit the Office of Management and Budget (OMB).