Contain financial conditions and legal rules agreed upon by the sponsor and the University which may require financial reporting.
Grants can cover project costs partially or in total
It has a limited life cycle, split into phases, indicated by a status in GM as follows:
Proposal; Draft: The proposal is a complete formal document, including budget
Award; Expected: The sponsor has indicated that the grant will be approved, but the fully executed award has not been received.
Award; Award: The sponsor approves the grant and a fully executed award is received
Award; 30 days to End Date: The award is 30 days from expiring, the award is closed to new commitments.
Grants Management Anaysis
Grants Management Analysis FI_GM_310