Fund Group: Contracts & Grants
Sub Fund Group: Federal, Sponsored Gifts, Non-governmental,
New York State Local, New York State, Other Government, Pre-Award, Program Income
Definition: An award of funding that results after a formal proposal is submitted to an outside sponsor (most commonly an agency of the United States Government or a New York State Agency). The receipt of funds requires a signed award under which the University agrees, for a specified dollar amount, to perform a certain scope of work according to specific terms and conditions, including period of performance. The individual fiscal period for a sponsored project is specified on each award. At Cornell fiscal year-end (June 30th), the balances in these accounts remain in the accounts.