FAQs: Project Monitoring
Your department should establish a financial review and control procedure based on your funding sources and relative risk. The department may decide to match receipts to every transaction, or to use a sampling procedure to verify expenses. See the VPF’s policy on Financial Review and Control for information that assists DLCs in performing a self-review of controls over financial systems and activities.
That depends on the method of purchase. VPF will automatically seek RAS advice for questionable purchases made by purchase order or on a request for payment form. Procurement card purchases are approved by the DLC, and therefore it is the DLCs responsibility to confirm that charges are allowable. See the terms of your award to determine what purchases may be restricted, or contact your RAS contract administrator with questions.
Some sponsors include a line item budget in the award document, while others reference the budget from the most recently submitted proposal. You may also have permission to adjust your budget depending on the terms of your award. See the Kuali Coeus Award module under “Terms” to see what restrictions your account may have on rebudgeting.
You can check on reporting requirements in the Kuali Coeus Award module.