» Financial Management

Toggle Section

Establishing Sponsored Project Accounts

Once a project award notification has been received by The Office of Research, a project set-up meeting will be arranged between the PI, The Office of Research and the Director of Contracts and Grants to establish a project account and review obligations and sponsor requirements.

Acceptance of an award from an external source imposes an obligation on both the Principal Investigator (PI) and Chapman to conduct the project and use the funds for the purposes set forth in the application, in accordance, with applicable cost principles. Chapman also assumed responsibility for fiscal and administrative management of the project. The PI, as designated project director, is responsible and accountable for the proper conduct of the project, including the scientific performance and the submission of required technical reports. Chapman is legally responsible and accountable to the agency for the financial aspects of the supported activity and relies on the PI to spend in accordance with the approved budget.