XVII. Close-out Procedure

In order to facilitate the capture of all direct and indirect costs associated with an award or contract, Lesley has initiated the following process.

At 90 days prior to the termination date of the award or contract, the PI will receive an email indicating that the 90 day threshold has been reached. The department budget coordinator will ask if the program and its related expenditures are on track and request that the PI review the status of the award. The department budget coordinator will offer to request a no cost extension or any necessary budget modification from the sponsor on behalf of the PI.

At 60 days prior to the termination date, the PI will receive another email from the department budget coordinator stating that they are at 60 days out from their termination and requesting that the PI review the fiscal and programmatic status of their account. They should be looking for expenditures which have not yet hit the grant that should have and ensure that all expenditures that have hit the grant are appropriate. In addition, the PI will be asked to review their purchasing needs and complete them before the month's end.

At 30 days prior to the term date, the PI will receive a final notice from the budget coordinator indicating that with exceptions and excluding payroll, no further expenses will be allowed to be processed on the account. This step is in place to ensure that the University is able to capture all costs associated with the award or contract and to avoid audit findings later as large, unjustified expending during the final month of a grant are red flags for auditors.