The Research Foundation prepares and submits interim and final financial reports. It is important to note that the principal investigator is ultimately responsible for management of the fund and, as such, must ensure that all expenses charged are accurate and allowable under the Terms of the Award.
In addition to financial reports, most grants and contracts also require the submission of interim and final technical reports of the research accomplished during the period of performance. The specific requirements are either stated in the Award Notice, or, in the case of many grants, in a policy manual referenced in the Award. It is the Principal Investigator’s responsibility to prepare and submit the technical reports to the sponsor.
Report of Inventions
Most sponsors require that discoveries and inventions be disclosed to the sponsor upon conception or reduction to practice. The Principal Investigator is responsible for adhering to a sponsor’s invention reporting requirements, as well as, the University’s policies regarding the disclosure of inventions
A Final Invention Statement and Certification is usually executed and submitted following the expiration or termination of a grant or award. The Statement includes all inventions which were conceived or first actually reduced to practice during the course of the work under the grant or award, from the original effective date of support through the date of completion or termination.
Final Inventory of Equipment
All federal contracts and many grants require a final inventory of equipment purchased, fabricated or furnished by the sponsor during the period of the project. Non-federal sponsors may have other requirements.