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Monitor and analyze finances

Need assistance with financial monitoring or analysis?

Award finances should be closely monitored to ensure spending is compliant with sponsor and institutional regulations, and aligns with the proposed budget. Front end controls are established so monitoring can happen throughout the entire award.

Transactions should be reviewed to determine if:

  • They are reasonable
  • They are allocable to the sponsored project
  • They are given consistent treatment
  • They conform to limitations or exclusions set forth by the Sponsor
  • The project has sufficient funds to cover the purchase
  • Proper approvals and documentation are included

 

Monthly financial analysis

On a monthly basis grants and contracts administrators should be reviewing their active awards for financial compliance and making adjustments and corrections, as needed. Monthly reviews should include but not be limited to:

Refer to the “Related Resources” on this page for tools and quick reference guides for conducting your monthly award analysis.