While central administrative offices such as SPA and SPF perform tasks such as creating accounts, billing sponsors, preparing financial reports and serving as the central focus of audit and other financial inquiries, the major obligation for the day-to-day management of sponsored projects and insuring compliance with the myriad of federal and other sponsor regulations is the responsibility of the PI, supported as necessary by his/her DA and other administrative staff.

See overview of PI and DA roles and responsibilities. The following sections describe the obligations of PIs and administrative support staff in the financial monitoring of sponsored projects, as well as key elements that are necessary in order to ensure compliance with both University and sponsor requirements.

As it is highly regulated by OMB and individual funding sponsors such as the NIH and NSF, the management of sponsored projects is complex and requires Columbia to be responsible and accountable for both the regulatory and fiduciary caretaking of funds.

It is critical that sound financial management of these sponsored funds be practiced and adhered to in order to maintain the public trust in how these funds are spent. Proper stewardship of these funds is a responsibility that must be shared among many individuals and departments within the University. Our primary sponsors are becoming increasingly more involved in ensuring that systems and controls are in place to oversee and monitor the funding they provide to the University.

Managing these funds properly is essential to eliminate cases of fraud, institutional mismanagement, and poor individual management of awards. Proper stewardship will result in the effective management of public funds to maximize research outcomes and higher standards of research integrity.

See brief description of regulatory oversight of sponsored projects, including summaries of the most relevant OMB Circulars.