The completion of the final reporting responsibilities is a shared responsibility of the PI and RSP. The following list is a guide to the usual required closeout procedures identified by the primary responsible party. An RSP Project Closeout Checklist (PDF) may be used as a guide in reviewing projects prior to and after the end of the project period.
Expired funds are checked for receipt of all outstanding invoices, remaining Facilities and Administrative (F&A), and outstanding encumbrances. Additionally, the dean/center director will be contacted for any outstanding charges on the fund. Fixed-price contracts with F&A budget remaining at expiration will be charged at that time.
If a deficit remains in the expired account, the PI is contacted to discuss and provide a source account from which to recover the deficit. Funds needed to cover deficits are first taken from the PI's seed account. In the event the PI is unable to cover the deficit, responsibility for the deficit then lies with the department or center and finally with the college or division. RSP will prepare budget transfer forms to recover the deficit and forward to the PI for approval. The PI should contact RSP if there is a problem or question. If the signed Budget Transfer (BT) forms are not received back in RSP within ten (10) working days, it is assumed that the PI approves and the BT will be processed.
Residual Balance Accounts
Residual funds on fixed-price contracts are distributed according to the University Sponsored Research Return Distribution Policies (PDF) (approved by Faculty Senate and adopted by the Provost December 1999) as follows:
Unexpended funds will be distributed as follows:
Note: If it is determined after the distributions have been made that the agency has over-compensated the university the recovery for any disallowed payments is made according to the approved procedure for Deficit Balances.