Grant Over-Expenditures

Grant over-expenditure policy aims to prevent the misuse of research funds and ensure compliance with funding terms. Over-expenditures can lead to the loss of University’s funding, and increases administrative burden. Generally, overspending on research grants is not permitted unless explicitly authorized, and researchers are held accountable for managing their grants within the approved budget. Temporary over-expenditures may be approved to accommodate the timing of payments for multi-year grants or grant renewals.

Monitoring and Resolution

Research Finance regularly reviews grant accounts and will notify the Principal Investigator (PI) when a grant is nearing a zero balance or is already in deficit. The Research Finance team will collaborate with the PI to resolve any deficits in a timely manner.

All deficits must be resolved in order to close a grant. Any deficit remaining at March 31st will be transferred to the departmental/faculty worktag (account) of the unit to which the PI belongs. The PI is responsible for reimbursing the unit/faculty within 90 days from the date of the transfer.

PI Responsibilities

PIs are accountable for all grants for which they hold signing authority. They are responsible for ensuring the following:

• All costs incurred under the grant are within the approved budget.
• All expenditures are eligible costs in accordance with the terms of the award or sponsor contract.
• All costs are incurred within the eligible period specified by the award or grant agreement.
• Any errors, omissions, or duplication in expenses or budgets are reported to Research Finance in a timely manner.
• Notify Research Finance of any revenue or expense discrepancies in their grant.
• Notify research Finance when research is complete and to authorize the close out of the grant.