Account Management

Each account in UAccess Financials is assigned to a responsible person. For sponsored projects accounts, this person is the principal investigator. The principal investigator may delegate some of the duties associated with financial management of the account to a business manager or other subordinate. However, the principal investigator assumes full responsibility for all activity on the account.

The principal investigator is responsible for ensuring that all disbursements from the account are:

  • For the sole benefit and purpose of the account
  • Allowable per the terms of the award
  • Authorized in accordance with University policies, state and federal laws and regulations
  • Charged to the appropriate object code
  • Fall within the available balance of the account

The principal investigator is responsible for ensuring that:

  • The account is reconciled in a timely manner, i.e., within 30 days of receiving the month-end report
  • Immediate action is taken to resolve any errors or discrepancies noted during report reconciliation and to follow up to ensure that errors are corrected
  • The account is updated for changes in authorized signers and other account information
  • Copies of supporting documentation for all activity processed on the account are maintained for at least five years after the final closeout of the project