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Cost Overruns on Sponsored Projects

Effective December 26th, 2014, OMB Circulars A-21, A-110 and A-133 will be replaced by regulations under the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (also known as the Uniform Guidance). Please refer to the University’s Uniform Guidance website http://spa.columbia.edu/uniform-guidance for further details that may supersede information outlined in this policy. Revised policies will be posted once they are available.

 

Effective Date: April 1, 2008

Latest Revision: July 9, 2012

Executive Summary

In carrying out sponsored projects, Principal Investigators are generally expected to limit charges to sponsored projects so that the funds awarded by the sponsors of those projects are sufficient to cover all costs. However, where expenditures in excess of amounts awarded by sponsors (hereafter referred to as "cost overruns") are incurred, Principal Investigators and those providing administrative assistance are expected to resolve those cost overruns on a timely basis, in accordance with the process set forth in this Policy.

To view the full text of this policy, please use the link on the right.