Purchases cannot be initiated until a budget is created and the Principal Investigator/Project Director is notified it is appropriate to begin expending.
Expenses are charged to sponsored award budgets the same as they are charged to any Fairmont State budget and as such must conform to State and University procurement policies and procedures, unless otherwise authorized by the OGSP.
All costs charged to a sponsored award budget must be reasonable, allocable to the specific project, consistent with the way costs are treated in like circumstances at the University, and allowable under applicable sponsoring agency guidelines as well as state and federal policies and procedures.
Items charged to award budgets are to be utilized only for the purposes of the grant project and used during the grant award period. Therefore, “last-minute” purchases to use up funds will not be permitted. Very few purchases are considered allocable during the last few weeks of a grant period. The PI will be responsible for monitoring and reviewing the award budget in the Banner/Felix system on a regular basis to ensure posted expenses are accurate and inclusive. The PI will be sent a monthly budget report to review and approve the project budget and all expenses.
All expenditures should be processed well in advance of the last 30 days of a grant period. All expenditures must be processed, items received, and charges posted to the award budget before the end-date of the award.
Participant Support Costs
Funds provided for participant support may not be diverted to other categories of expense without the prior written approval of the agency. Since participant support cost is not a normal accounting classification, the PI must be able to separately identify participant support costs by keeping a shadow budget at their level. The PI will then be required to submit a copy of the shadow budget to the Grants Office at the end of their award period yearly.