The University recommends that the Department and PI review the expenditures on the Project Grant (P/G) on a monthly basis. Consistent monitoring will ensure better internal controls to help in the following areas:
- Minimize cost transfers
- Ensure timely and accurate effort reporting
- Optimize budget forecasting and avoid project overruns
- Request timely sponsor approvals as necessary
The University’s Information Warehouse contains valuable reporting data from PeopleSoft Financials, Labor Accounting, Departmental Charges, and the Invested Funds database. The Sponsored Project Report is generated from the Information Warehouse enables users to view actual versus budgeted expenditure information for a P/G in order to assist in continuous award monitoring.