9. Budgets And Awards
Principle
Iowa State University conducts sponsored research and sponsored scholarly activities on a cost-recovery basis. The Office of Sponsored Programs Administration (OSPA) administers gifts, grants and contracts in order to comply with the terms and conditions specified by the sponsor; meet state and federal reporting requirements; recover all project costs, both direct and indirect; and provide accountability for these funds.
Guidelines
ISU must accurately identify and classify all costs associated with sponsored research and sponsored scholarly activities. OSPA is the unit responsible for providing institutional approval of proposals, which include budgets, submitted to external sponsors in addition to the management and administration of grants and contracts awarded to ISU. External sponsors include organizations such as local, state, or federal government agencies, private foundations, associations, and corporations.
When external sponsors wish to fund a project for an amount different than originally proposed, it may require a revised budget and scope of work to be reviewed and approved by OSPA.
The acceptance and processing of awards may require additional information from the sponsor or investigator to determine the nature and intent of the award.