Q: Is it possible to make budget adjustments after I receive the award? And, if so, how?
A: Yes. As a rule of thumb, if the adjustment does not change the category by 15% (more or less), the change can be made without seeking prior permission from the funder (usually the faculty member’s responsibility). Tell Sponsored Programs staff first; we need to make sure you have flexibility in the budget and that you continue to follow the funder’s rules.
Q: Does OSP help me with Financial Reporting to my funder?
A: Yes. We keep track of all the expenses related to your grant, reconcile the amount with the Business Office, and create a final financial report in the format preferred by the funder. We’ll also give you a reminder email to make sure that you have spent the funds properly before the end of the grant period.
Q: How do I purchase equipment/supplies with grant money?
A: There are several ways to purchase equipment using grant money. These procedures are outlined step by step in our Project Directors Manual. Briefly, items may be purchase with a Departmental or personal credit card in which case you would submit an expense report for reimbursement. For larger items ordered through a vendor a purchase order may be used. In both cases, Sponsored Programs will need to approve the purchases.
Q: What do I do when the project is over?
A: When your project is complete and all funds have been expended you will notify Sponsored Programs who will then help you complete any final financial and budgetary reporting that is required by the funder. OSP will handle closing the project with Otterbein University’s Business Office.
Q: How do I arrange payment for an outside consultant?
A: Payment for a non-Otterbein employee requires a contract. Once you have found a consultant, guest speaker, etc., contact OSP with the details such as name, address, date of birth, social security number, deliverables, payment schedule. We will work with Business Affairs to create a service providor contract. The contract will be signed by Business Affairs and the consultant. When the deliverables have been met, you will complete a payment voucher and send it to OSP for approval and processing.