Post-Award Resources: Fund Management:
Preparing for Grant or Contract Closing

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90 Days Prior to the end date

• Check the salary and benefit portion of the grant to make sure that all related personnel have been paid and that the projected balance is as it should be.
• Contact Eve to make sure that the subcontracts and consultant agreements will be paid before the end of the grant.
• All remaining equipment budgeted should be ordered.
• Recharge groups should be notified of the end date of the grant to make certain that all charges will appear within 30 days of the end of the award period.
• The "Supply" and "Other" category budgets should be reviewed to make certain that there is a plan in place to expend the remaining funds.

60 Days Prior to the end date

• Review each of the areas, specified above, and discuss all necessary changes with the Principal Investigator as well as the related administrative and research staff.
• The plan for closing should be agreed upon and set in place.

30 Days Prior to the end date

• Check with Eve to make sure that the final invoices have been received, processed and payments will appear on the next ledger.
• Review all orders that have not been invoiced and/or appeared on the ledger.
  • If invoices have been sent to Accounts Payable and have not appeared on the ledger, check WebLinks to make sure they have been processed for payment.
  • If you do not find the invoices in WebLinks, contact Accounts Payable to find out if they have the invoice. If they do not have the invoice, fax a copy to the person that you spoke with and follow up to make sure that it will appear on the next ledger.
  • If you have not received the invoice, contact all vendors regarding the status of the invoice.
  • If the vendor has sent a copy of the invoice to Accounting, ask them to fax a copy of the invoice to you and follow the procedures above.
  • If the vendor has not sent the invoice, ask that they fax it to you immediately. When you receive this copy, obtain the authorized signature and fax it to a specific person in Accounts Payable.
  • Contact that person to make sure that they have received it and will process a rush payment so that it will appear on the next ledger.
• Review the Salary and Benefit balances and make all of the final changes including payroll transfers to assure that all entries will appear on the next ledger, which should be 8 days after the end date of the grant

30 Days After the end date

• All invoices, cost transfer and payroll journal should have appeared on the ledger.
• Prepare Vacation Leave Transfers to spend out the grant.

45 - 60 Days After the end date

• The Vacation Leave Transfer has appeared on the ledger.
• The final report is prepared and submitted to the agency.