Financial Agreements & Awards

The most frequent issues associated with financial agreements are: no-cost extensions (may require an amendment to the funding agreement) and amendments necessitated by a change in the PI, change in the scope of work, or change in the budget for the project. The following pages discuss these issues in details along with the paperwork that must be submitted to the Office of Sponsored Programs for review.

No-cost Extension

NCEs without formal amendment to the agreement represent the most common issue that needs to be addressed for corporate funded agreements and occur because the period of performance identified for Sponsored Projects Accounting in the award record is drawing to a close. 

Change in PI

In the event that the PI for a given project is no longer able to continue his/her involvement in the corporate funded project, either due to illness or transition to a new institution, prompt communication with the corporate partner is essential.  

Change in Scope of Work

During the course of a funded research project, it may be necessary to clarify or augment the scope of work for the project.  If such clarifications do not involve a corresponding change to the budget for the project, this change can often be made via a simple amendment to the contract. Procedures for amendments involving budget changes follow a slightly different procedure. 

Change in Budget

For corporate funded agreements, changes in budget can often be associated with changes in PI, changes to the scope of work, and/or changes to the period of performance for the project.  The documentation to be submitted to OSP will depend upon your specific project and the changes being made.