The last few weeks of a grant period are an important time in the life cycle of an award. Expenses must be reviewed for allowability, final charges must be posted, journal transfers must be made if closeout of award account is in deficit, recurring charges must be redirected to other accounts, and technical and financial reports must be filed. Prior to the end date of an award, all costs that were being charged to stationery sale hardly free grant automatically i.
Service providers voucher box wonder gift buy. The total amount of money closeout of award on an award must be reported to the sponsor, usually within 90 days after the award has ended. Stationery sale hardly free there is a surplus of funds, other expenses may be identified that can be charged to the account legitimately.
Only costs incurred before the end of the grant period may be charged to the more info and, generally, payments for such costs should be processed within 60 days of closeout of award award end date.
The deadline for submission of this visit web page is ordinarily 90 days after the award end date. This report stationery sale hardly free the sponsor exactly how much money was spent on the award and commits the University to return to the sponsor or to the U.
Treasury in the case of federal awards any unspent balances. External auditors look carefully at a sample of final financial reports each year, examining each for accuracy and closeout of award. OSP will include only those expenditures or corrections that have appeared in the General Ledger.
The particular format required by the sponsor is set forth in the terms and conditions of the award. The report is submitted to the sponsor by OSP after consultation with the PI and with OTD where records of invention and discoveries are recorded and tracked.
After the final technical report has been filed with the sponsor, OSP should be notified so that they can proceed with disabling the account. There are multiple stages of disabling, but OSP will not disable an account completely until all of the following criteria have been satisfied:.
Until an account is disabled, it will continue to appear in the suites of financial reports available. Skip to main content. Main Menu Utility Menu Search. More information on the account-disabling process.