Untitled Document Cash Management Cash Management Philosophy Principal Investigators must constantly monitor expenditures for grants and contracts to ensure that all expenditures comply with the terms outlined in the approved agreements. Project cost management practices are dictated by the specific terms in the signed agreement. SPAA expedites invoices to program sponsors for cost reimbursement and monitors the accounts receivable to facilitate prompt payment by sponsors. The funds are not received at the beginning of the project. The projects are billed after the expenditures occur.
Some sponsors require additional documentation to support invoices.
When such supporting documentation is required, it should be submitted to SPAA by the 20'th of each month if it is to be included in the previous month's invoice to the sponsor. Invoices are issued monthly, quarterly, or at times designated in the agreement. Invoices for these projects cannot be generated until corrections are processed and appear on the current Budget Status Report . Corrections should be processed immediately. In certain special circumstances, the individual department in charge of the project prepares invoices.