The Office of Sponsored Programs provides support and assistance to Principal Investigators (PIs) throughout the lifecycle of a grant. Once a grant has been awarded, the PI acting as an agent for the College is responsible for managing the grant, and ensuring that award requirements are fulfilled in a timely manner. Following is a brief summary of the three key components of post-award administration.
PIs are required to submit performance reports to federal, state and local agencies on the fiscal and performance status of a grant. Like financial reports, performance reports provide an indication of how the PI is accomplishing the goals of the award. PIs are expected to monitor the performance of all activities to ensure that time schedules are met, proposed work is completed and other performance goals are achieved. Performance reports should describe the following:
- overall progress, including results to date and comparison of actual accomplishments with proposed goals for the period,
- current problems, favorable or unusual developments,
- work to be performed during the subsequent period,
- problems, delays, and adverse conditions that will materially affect the PIs ability to meet the projects objectives and time schedules or that after the after the approved budget.
Closeout-Out, Suspension and Termination
Closeout of a grant is the process by which the federal, state, or local agency determines that all applicable administrative action and all required work on the grant have been completed by the grantee. The three key features of closeout are:
- submitting all final performance, financial and other required reports;
- adjusting the federal/state/local share of costs upward or downward, if necessary; and
- settling any cash balances (An unencumbered balance of cash advanced to a grantee must be refunded or be reflected by an appropriate accounting adjustment. Similarly, if cash is owed, the federal, state or local agency should make payments for any reimbursable costs.)
When a PI has materially failed to comply with the terms and conditions of a grant, the agency may, upon notice to the grantee, suspend the grant. Suspension can be imposed on all or only a portion of a grant. Suspension is a temporary measure pending either corrective action by the PI or a decision by an agency to terminate the grant.
If a grantee fails to comply with the terms and conditions of a grant or to remedy a situation under suspension, a grant can be terminated in whole or in part at any time.