Text Box: Text Box: 13 Text Box: Award Acceptance ORSP considers an award to be officially received when written notification is received from the sponsor. In the case of contracts or subcontracts, an award is not official until the contract has been fully signed/ executed by both parties to the agreement. In some cases, a grant award must be accepted by signing and returning the grant award notification. This signature must be completed by one of the authorized signatories. In most cases, ORSP receives the grant award notification from the sponsor. However, in some instances the grant award notification is sent directly to the PI. The PI must provide this grant award notification to ORSP for review, acceptance and setup of grant and fund. A new grant number is assigned and entered into BANNER. A new fund is set up with the budget allocated according to the sponsor’s awarded budget or proposed budget if no changes were made by the sponsor. The proposal is incorporated into the official grant document file. The following documentation is distributed to the PI and Departmental Administrator: A copy of the original award letter Budget breakdown ORSP Award Information Sheet