In accordance with federal regulations, St. Lawrence University requires principal investigators of federally funded sponsored activities to periodically verify that the salaries charged to grants for which they are responsible represent a reasonable estimate of the actual time worked on the grant.
Annually, the Business Office sends a report to each principal investigator of a federally-funded sponsored activity which reflects the salaries charged to the grant in the period just ended.
The principal investigator must ascertain that the salaries reported by the Business Office as charged to the grant represent a reasonable estimate of the actual time worked on the grant. If the salaries do not accurately reflect the time worked, the principal investigator should indicate the correct allocation of salary to the grant and the actual time worked on the grant. In either case, the principal investigator will verify the report and return this verification to the Business Office.
If a report indicates that the salaries charged to a grant did not represent a reasonable estimate of time worked on the grant, the Business Office will reallocate the salary expense so that the grant is only charged an amount representative of time actually worked.
If a federally-funded grant requires the university to cost share salaries, the required cost share amount of salaries for the period will be noted on the report from the Business Office. The principal investigator must indicate on the report what portion of the cost share commitment has been satisfied before returning it to the Business Office.
Completed Time and Effort reports will be maintained in the Business Office.