Fiscal Officer Responsibilities - Sponsored Projects

Once an award is received, Fiscal Officers must:

• Review the award notice and approved budget
• Ensure the project is set up correctly in the financial system
• Verify start and end dates, budget categories, and restrictions
• Communicate any special terms or sponsor conditions to the PI
• Ensure subaward budgets are properly established, if applicable

Fiscal Officers are responsible for ongoing financial oversight, including:

Allowable and Appropriate Charges
All costs must be allowable under sponsor and federal rules, allocable to the project, reasonable, necessary, and consistently treated with similar costs.

Budget Management
Fiscal Officers must monitor expenditures against the approved budget, identify potential over- or under-spending, work with the PI to process budget revisions when needed, and ensure spending aligns with the project timeline.

Effort and Payroll Oversight
Fiscal Officers verify that salary charges reflect actual effort, ensure payroll is charged to the correct grant, and support effort reporting and certification.

Fiscal Officers ensure that:

• All expenses have adequate supporting documentation
• Justifications are provided for unusual or high-risk charges
• Records are retained in accordance with sponsor and SIUC policies
• Files are audit-ready at all times

This includes invoices, receipts, payroll records, subaward documentation, and cost share tracking.

Throughout the life of the award, Fiscal Officers must:

• Understand sponsor financial reporting and invoicing requirements, including frequency and deadlines

• Monitor expenditures to ensure costs are allowable, allocable, and accurately recorded

• Identify and resolve discrepancies, overdrafts, or unusual transactions prior to reporting periods

• Coordinate with the Principal Investigator and OSPA to address financial reporting or invoicing issues

• Provide supporting documentation or justification as requested

• Review financial reports prepared by OSPA for accuracy and completeness

• Approve and sign off on the final financial report

Important notes:

• All sponsor financial reports and invoices are prepared and submitted by OSPA unless otherwise instructed.

• Fiscal Officers do not submit invoices to sponsors but are responsible for ensuring the underlying financial data is accurate and complete.

If a project includes subrecipients, Fiscal Officers assist by:

• Monitoring subaward spending
• Reviewing invoices for allowability and accuracy
• Ensuring payments match the approved subaward budget
• Confirming required technical and financial reports are received

At the end of the award, Fiscal Officers must:

• Review all charges for accuracy and allowability
• Ensure all expenses are posted before the deadline
• Clear overdrafts or unallowable costs
• Assist OSPA with final financial reports
• Confirm all subaward invoices have been received and paid

Important note:
The Fiscal Officer is required to sign the final closeout confirmation, certifying that:

• All expenses have posted,

• Charges are accurate, allowable, and allocable, and

• The award is financially complete and ready for closeout.

Timely closeout is required to avoid audit findings, funding delays, and sponsor penalties. 

The Office of Sponsored Projects Administration (OSPA) provides policy guidance, budget approvals and modifications, financial reporting, sponsor communication, training, and compliance support.

Fiscal Officers should contact OSPA whenever:

• A cost is unclear or unusual
• A budget revision is needed
• Corrections and Expense Approval is needed
• Revisions that require sponsor approval 
• There are concerns about compliance