Opening or Modifying a Project

Opening & Modifying Accounts


Once New York University (NYU) is awarded funding from a sponsoring agency, a project is set up to track expenditures and to monitor other award compliance requirements. Both public and private sponsors provide specific requirements for tracking and reporting on grants and contracts.

NYU Approach

The Office of Sponsored Programs (OSP) initiates the setup of an award on behalf of the Principal Investigator (PI). After the initial setup in Cayuse (NYU’s pre-award system), Sponsored Programs Administration (SPA) sets up a project in PeopleSoft, including the approved budget received from the Department, by means of an Excel template. Alternatively, the Department may designate staff to input budgets for sponsored projects directly into the BIA Budget Module.

Project Set-Up & Modifications

All notices of grant awards are forwarded to OSP. OSP enters the award information into Cayuse, NYU’s proposal tracking and award administration system. The award data in Cayuse is then transferred to the PeopleSoft financial system and reviewed by SPA. SPA then completes the project and budget set up and issues a Project Authorization Form to notify the department of the project chartfield to be used for spending. 

What's an Advance / Risk Project?

An Advance/Risk Project allows the PI to begin spending pending receipt of the formal notice of award. A risk project can be requested. The school or department's Fiscal Officer must approve any Advance/Risk Project. Risk projects are generally established at 25% of the anticipated award for a budget period of three months. Should the anticipated sponsored award not materialize, the department is responsible for all expenses incurred on the risk project. 

Pre-Award Spending

The term "Pre-Award Costs" has two related, but distinct meanings.

  • Costs for a project incurred prior to the effective date of the award.
  • Costs for a project incurred on or after the effective date of the award, but prior to the University's receipt of the award documents.

In certain cases, federal agencies permit recipients to approve spending up to 90 days prior to the effective date of the award. Departments must request prior approval from OSP through PAS (the Prior Approval System) for pre-award costs prior to the “effective date” of a new award.  If the notice of award has not been received from the sponsor and the PI wishes to begin spending, the PI may submit a Request for Risk Project. If the research involves human subjects, departments must have approval from the IRB.

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Frequently Asked Questions