Award Types

  

Post-Award Management

There are two types of grant awards. Depending on the type of award, the accounting, invoicing, and closeout procedures of the award are handled differently.

Cost Reimbursable Awards (CRB) – The sponsor is invoiced based on actual costs expended by the University at the time of invoicing that were incurred within the grant performance period.

  • Payment is based on actual reported expenditures.
  • Encumbrances do not qualify as actual costs incurred.
  • The costs cannot exceed the award amount.
  • Any deficits will be the responsibility of the college/dept/center to reconcile.

Fixed Price Awards (FIX) – The sponsor will pay the University an agreed amount for a deliverable(s), irrespective of the costs incurred by the researcher.

  • Actual project costs are not reported to the sponsor
  • The award may include a pre-determined invoicing schedule date and fixed amount
  • The payments may not be made until a deliverable is met. The PI is responsible to communicating to their grant accountant when this occurs so invoice can be provided to sponsor.
  • Any deficits will be the responsibility of the college/dept/center to reconcile.
  • There may be a residual balance (payment less expenditures) that the PI/Dept/College may be eligible to retain.

The residual balance will be calculated and distributed accordingly as described in the Residual Fund policy.

Policy: Residual Fund Balances for Fixed Price Awards
Grant Accountant: Post Award Contacts list