The Principal Investigator's Responsibility
Handbook Section and Topic Page Links
Section 1: Introduction
Section 2: Proposal and Budget Development
- Charging Administrative Expenses
- Accounting for Unallowable Costs
- Application of Facilities and Administrative (F&A) Cost Rates
- Facilities and Administrative (F&A) Cost Waivers
- Personnel Costs
- Fringe Benefit Rates
- Institutional Base Salary
- Cost Sharing
Section 3: Managing Awards
- Opening or Modifying a Project
- Prior Approvals
- No-Cost Extension
- Cost Transfers
- Effort Reporting
- Salary Cap Administration
- Program Income
- Clinical Trials Financial Management
- Managing Sponsor Payments
Section 4: Travel and Procurement
- Domestic and Foreign Travel
- Memberships, Subscriptions, and Professional Activities
- Managing Subawards
- Small Business Program
- Managing Equipment Acquired with Federal Funding
- Recharge Center Policy
Section 5 Closing an Award
The Principal Investigator (PI) is responsible for conducting research that generates independent, high quality, and measurable results. In this role, the PI is responsible for the management and integrity of the programmatic design, conduct, and reporting of the research project and for managing, monitoring, and ensuring the integrity of any collaborative relationships.
While the funding is awarded to the institution, the PI is primarily responsible for the programmatic and financial monitoring of the award. As a result, the PI must ensure that research is conducted in accordance with Federal regulations as well as New York University (NYU) and sponsoring agency policies and procedures.
Sponsored Programs Administration (SPA) and the Office of Sponsored Programs (OSP) are responsible for supporting PI’s and their staff to meet all the compliance requirements established in law, University policies and sponsor agreements.
It is ultimately the responsibility of the PI to ensure that expenditures, whether they are related to personnel, equipment, supplies or other categories, are charged to their individual sponsored agreements in an appropriate and timely manner. Of course, the University’s administrators and administrative support systems have to provide the necessary structure, systems and training that make compliance possible, but the ultimate responsibility rests with PIs.
Accordingly, although the PI may delegate responsibility for day-to-day financial management of a grant or contract to others within the department or unit, the Investigator must exercise appropriate oversight of the overall finances of the project.