RSP 509–04: Sponsored Project Agency/Org Deficit/Account Closeout
To establish the responsibility for a deficit on a sponsored project account
Office of Knowledge Enterprise Development (OKED)
Office for Research and Sponsored Project Administration (ORSPA)
The Office for Research and Sponsored Projects Administration is responsible for coordinating the closeout of a sponsored project.
All financial transactions charged to a sponsored project are originated by the principal investigator (PI) or designee at the unit or department. Financial responsibility for project deficits therefore resides at that level. The principal investigator will be called upon to identify alternate funding sources for any deficits that occur. If the principal investigator has insufficient resources to cover the deficit, the department chair will be contacted for resolution. The college dean or center/institute director will be included as circumstances require. The responsible agency/org as identified in the unit hierarchy will be responsible to cover the deficit. If the appropriate agency/org is not able to cover the deficit, the investigator’s IIA account shall be used.
All deficits on sponsored projects must be cleared within 90 days of the award end date (unless granted special dispensation by OKED) or 60 days after notification to principal investigator, whichever is later.
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