Grants & Sponsored Programs

Grant Close-Out

During the grant period, various interim fiscal and project reports may be required.  Information concerning filing these reports is usually received with the grant award document.  The Grants Accountant will use this information as the basis for preparing fiscal reports and will submit them directly to the funding agency.  The Project Director is responsible for any project reports.

All transactions concerning a grant should be submitted to Business Services before the grant period expires.  All charged must be submitted on a timely basis.  Submission of a final financial report is usually required within 90 days for federal grants. To close out an index, the Project Director must have spent the monies in accordance with the terms and conditions of the award.  Project Directors and administrators must monitor each index to be sure that erroneous charges, unallowable charges and over
-expenditures are removed from the sponsored project.  In order to close properly, an index’s total expenditures must match its total income.  If expenditures are less than income, excess income must be
returned to the sponsor.  Even more important, sponsors will not reimburse the University for charges that exceed the award amount.  Expenditures will have to be moved to a department account should an over
-expenditure occur.

Once the sponsored project has been properly closed and all reports submitted to the sponsor, the index is deleted.


Please visit the Grants & Fiscal Management website for more details.