Work Study Announcement
To: Principal Investigators, Deans, Directors, and AdministratorsFrom: Jeannemarie Smith
Subject: College Work/Study appointments
Each year the University is awarded a grant from the Federal Government to employ work/study students. The federal work study grant term bifurcates the University fiscal year: the grant period ends on June 30th of each year. This summer, two material issues have caused us to look more closely at the process and controls governing the internal allocation of federal work study resources. First, certain schools have exceeded their 2004 allocations and inadvertently “claimed” resources allocated and planned for use by other schools/units in the University. Secondly, the 2005 federal grant amount awarded to NYU was reduced from prior year levels. In light of both issues, we are in the process of analyzing more closely school budgeted allocations and actual spending levels and will likely need to make reductions in federal work study allocations in the coming cycle. PIs should contact their school financial officers to confirm that funding is secure for existing federal/college work study budgets included in currently active grant budgets and planned to be expended over the summer months. In addition and in order to plan for next year’s federal work study grant, the following measures have been enacted:
- PIs must budget for work/study students at the time of application; approval of the application by the school financial officer will constitute a commitment on the part of the schools to reserve money for any resulting award.
- At the post-award stage, Sponsored Research Accounting and the University Budget Office will require school financial officer approval to rebudget money into or out of this employment code.
- To aid in the planning process for the upcoming year, PIs should contact their school financial officer if their award contains a budget for 04-05 with work/study funds.
