Budgets

Once notified of an award, a copy of the budget as awarded by the sponsor will be sent by the Associate Provost for Academic Affairs to the University’s Director of Accounting.  The Director of Accounting will establish a budget account for the project and will maintain it within the limits set by the sponsor for the period(s) of the project. The Project Director is required to submit the required forms and other paperwork required by the Director of Accounting to establish the grant’s budget account.

Expenditures of grant funds will be made in strict accordance with the sponsors requirements and the procedures of the University of Mary Washington and the Commonwealth of Virginia.  University requirements and procedures for travel, purchasing and other expenditures will apply.

Any revisions from the approved budget must be requested by the Project Director, reviewed by the Director of Accounting and the Associate Provost, and approved by the funding sponsor.

The Principal Investigator/Project Director must not make any commitments or expenditures until the grant is officially awarded and accepted or the contract has been fully executed.

Without a sponsor approval for project extension, the Principal Investigator/Project Director must not make any commitments or expenditures after the completion date of the project.

The Director of Accounting, working with the Project Director and the Associate Provost as required, will prepare and submit fiscal reports, statements and other administrative documents required for grants and contracts projects. Non fiscal reports, statements, project progress reports are the responsibility of the Project Director.  The Associate Provost will work with Project Directors to ensure that such reports are prepared effectively and submitted in a timely fashion.  In order to ensure accurate record keeping, the Associate Provost will either submit the report on behalf of the Project Director or the Project Diector will provide a copy of the report to the Associate Provost when it is submitted.