The Principal Investigator has the overall fiscal responsibility for the project. This means ensuring that costs charged to the project are reasonable, necessary and allowable, reviewing items charged to the project regularly as well as making sure that over expenditures do not occur. PIs are expected to spend the project funds consistent with the sponsor’s guidelines; generally in the amount and in the categories specified in the awarded budget. The failure of a PI to adhere to accepted guidelines for fiscally managing an award can jeopardize the University’s eligibility for future awards.
Drexel Budget Worksheet [Excel]
DUCOM Budget Worksheet [Excel]
Graduate Student Account Codes [Doc]
Subcontract monitoring is the responsibility of the principal investigator (PI ) with oversight by ORA. The PI should:
- review subcontractor invoices to ensure that expenses are in line with the approved budget.
- make periodic site visits to subcontractors place of performance.
- ensure that technical performance is in compliance with the work statement and the terms of the subcontract.
- notify ORA if anything appears unusual.
Cost sharing represents real dollars that the University or a third party will pay to carry out the performance of a sponsored project. In general, cost sharing will be considered voluntary and uncommitted, and will not be proposed to the sponsor in the budget or identified in the narrative proposal, unless cost sharing is identified in the RFP as ‘Mandatory’ cost sharing.
Cost Sharing Policy