The Catholic University of America

Sponsored Award Costing Policy

Additional History 

 

7/30/15: The title of the policy was changed from "Grants and Contracts Poilcy," and the policy was revised to focus exclusively on existing requirements that costs charged to sponsored awards be allocable, allowable and reasonable. The policy also emphasizes the PI’s responsibility for monitoring of financial activity.
 

2/18/10: The Effort Reporting Section was amended. Minor language changes to PI requirement to sign affirming they have read the policy. 

4/17/09: A number of changes were made to the policy. Summary of major changes as follows:
 
  • Added a definitions section
  • Sections reordered to prioritize most common areas
  • Removed specific cost sharing language - belongs in cost share policy instead
  • Removed a section related to the accounting of grants and contracts - exchange transaction versus contributions
  • Added a section on grant responsibility - details the general PI responsibilities
  • Deleted the section on creating a project account - belongs in a procedures document instead Expanded the general grant expense policy section
  • Added language on cost allowability
  • Specified that only the PI can approve expenses; Any expensed reimbursing the PI or for the PI's procurement card must be Chair or Dean approved
  • Added language on adhering to grant budget limits
  • Added a section on pre-award costs
  • Added a brief section on faculty compensation limits - which refers to the faculty handbook
  • Added a section on effort reporting requirements
  • Added a section on cost transfer requirements, including documentation required, what types of transfers are prohibited, and time limits for transfer requests
  • Expanded language in unallowable expense section
  • Updated language on reporting
  • Added a section on cost overruns
  • Expanded section on grant/contract closeouts
  • Added a requirement that all PIs are to be given a copy of the policy, and required to verify by their own signature that they have read it.
  • Added a section on audit requirements