Management of Expenditures
Funding agencies issue sponsored project awards to Stanford University as the grantee organization. The University delegates overall responsibility for the technical and fiscal management of the sponsored project to the Principal Investigator (PI). While responsibility for the day-to-day management of project finances may be delegated to administrative or other staff, accountability for compliance with Stanford University policy, federal regulations, and sponsor requirements ultimately rests with the PI.
To support the PI and ensure compliance, the Director of Finance and Administration (DFA) and/or the Division Manager should implement a framework of sound fiscal management. Elements of the framework include the following:
- Financial Management in accordance with Award Terms and Conditions
- Monitor Financial Aspects of the Award
- Manage PI Effort (including Salary Cap)