Don all awards to WPI come with a check attached?
Most awards, in fact, are simply authorization for WPI to begin incurring expenditures in furtherance of project goals. Research Accounting must then invoice or draw down funds from the majority of its sponsors. When Research Accounting submits invoices or draws down cash using one of its many letters of credit, it is stating to the sponsor that cash is required to reimburse WPI for appropriate expenses, which is all the more reason why cost transfers must be kept to a minimum and closeouts of awards must be accomplished on a timely basis.
