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University of Colorado Denver

Office of Grants and Contracts
 

Grants & Contracts

Establishing a Preaward Account


 

Reference: Fiscal Policy 4-10

In some situations a sponsor may allow spending prior to the receipt of an award. In these cases the PI may request that a project be established (i.e., Preawarded) in advance of the award document. By making this request, the PI and administrative unit are acknowledging that they carry full financial responsibility for any costs incurred prior to the receipt of the award. Should the sponsor decide that any or all Preaward expenditures are unallowable, the department will transfer all Preaward expenditures to an appropriate alternative source of UC Denver funding.

In order to establish a Preaward project, the PI must complete a guarantee memorandum (Exhibit A, Fiscal Policy 4-10) which reflects the appropriate alternative source of UC Denver funding that can be used to cover any expenditures the sponsor disallows. There is a risk!   If you have any concerns or questions, contact the PreAward section of Grants and Contracts at 303-724-0090.

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