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Office of Research & Sponsored Programs

the grant lifecycle, mount evans observatory

Managing An Award

Monitoring Expenditures

Regular Monitoring

Reconciling grant funds on a monthly basis will allow you to manage your sponsored funds to ensure all expenditures and revenues are within appropriate limits and guidelines. More information on limits and guidelines can be found on the appropriate sponsor websites in the Uniform Guidance. Regular monitoring will help to:

  • Minimize cost transfers
  • Ensure timely and accurate effort reporting
  • Verify the availability of project funds
  • Avoid overspending, which may limit further funding
  • Request timely sponsor approvals as necessary

Do not wait until a problem is brought to your attention or until a project has terminated before reconciling an account.

Using Inception-to-Date Reports

Principal Investigators should monitor the financial activity of their award from the day it is activated until it’s terminated.  This can be done through the IBM Cognos Connection in PioneerWeb. These reports allow users to view actual versus budgeted expenditures for an award or project to assist in continuous award monitoring. This reports shows current period expenditures and encumbrances, and can drill down to the details.