There are five overall principles to managing the financial transactions of sponsored research funds. Policies and procedures within the OSP have been developed in support of these principles. The five principles are:
Transactions must be handled in a consistent manner. That is, policies and procedures have been established to address similar types of transactions in a routine manner.
Transactions must be handled within a reasonable period of time consistent with time frames outlined for federal agencies, a private sponsor, and Dartmouth College.
There must be a reason for the transaction that supports the project's goals, and adheres to guidelines outlined by federal agencies, a private sponsor, and Dartmouth College.
Sufficient documentation to support the transaction must exist. The documentation must be retained, organized, and complete enough to stand up to an audit.
Transactions must be approved and carry all the correct authorizing signatures.
