Project Completion & Closure
Terminating or closing grants
As soon as the Principal Investigator suspects that a research project is at risk of termination they must inform their Research Grants Administrator (secured)/ School immediately. They will review any contractual obligations and commitments in consultation with the PI, and negotiate a preferred solution with the funder.
Final Claims / Statements of Expenditure
When preparing final claims and financial statements normally only ACTUAL costs will be reported or claimed unless your Research Grants Administrator (secured)/ School is advised, in writing, of any committed costs. Failure to notify us of further expenditure to be posted / committed costs could result in loss of income and the Department incurring a debt.
Final claims and statements must be submitted within the timescale specified by the funder.
Some funders request Annual or Final Scientific Reports. It is important that the Principal Investigator understands their responsibility to ensure that such a report is submitted on time. If the final report is not received funders will withhold the final payment, the cost of any financial penalty will be borne by the department.
If the scientific report includes financial data, they should check with their Research Grants Administrator (secured)/ School what should be included to ensure there are no discrepancies.
Annual and Final Expenditure Reports are all submitted (and signed off) by the team. The same principles of timely submission apply.
Once a project has reached its Close Date no further expenditure can be charged to it. The date can be extended if further expenditure / transfers need to be charged to clear the balance and close the account. The Research Grants Administrator (secured)/ School must be contacted to action this.
After the final payment has been received as part of the closing down process a final reconciliation will be done. Any balance, surpluses, overspends and disallowed costs, will be advised to the department with a request for an account code to which it can be transferred. Once the balance has been cleared the project will be closed.