Requirements for what constitutes an official award document have relaxed through time. However, each award document should contain the following information:
- Period of performance (start and end dates for the work specified in the project plan or statement of work)
- The payment amount obligated by the sponsor
- Terms and conditions (including budget restrictions; e.g. prior approval for re-budgeting and restrictions on certain budget categories, equipment and/or fringe benefits)
- Payment and invoicing terms
- Official contact information
- Deliverable details for technical, financial, invention, procurement reports, milestones and timetable obligations
- Audit provisions
If the principal investigator receives the award letter they must send a copy of the notification to the Sponsored Projects Services for processing.
Project Period and Budget Period
Project period is the total amount of work time for which your grant has been approved. The project period is divided into budget periods (often 12 months) for budgetary/funding purposes. It is important to understand whether the terms and conditions of the award allow you to spend funds from one budget period in another budget period. Contact your Sponsored Projects Services fund accountant with any questions.