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When a research grant comes to an end the Research Operations Office will perform a number of administrative processes and then close the grant. This may take up to six months, depending on the sponsor and their payment terms. Awards from The European Commission (EC) may take significantly longer to close due to the administrative processes within the EC before making the final payment.

As an example:

  • Grant end date: 31 March 2018
  • Final statement sent within three months: 30 June 2018
  • Final payment received within three months: 30 September 2018

 

Final statements

For the final statement the grant is checked by the Research Operations Office to ensure there are no outstanding commitments or payments and the department will be contacted by their Finance Analyst - Research and Grants in the Research Operations Office to confirm that everything has been processed and spent according to the sponsor’s terms and conditions. If there are overheads or non-direct costs the values posted are also checked and corrected if necessary. When the final statement or invoice is sent to the sponsor the status of the grant will be changed on UFS.  The project will be changed from Active to “Pending close” and the award to “On hold”.

 

Grant closure

After the final payment is received, the grant will be closed. As part of the closing grants process a final reconciliation is completed for each grant, to determine whether an under- or over-spend has occurred. The status of the award and project will both be changed to "Closed" in the Grants module.

Any under- and over-spends will be transferred to the Department's relevant account in the GL unless the funds need to be returned to the sponsor.

an underspend (excess income) cash received in excess of expenditure.
an overspend (excess expenditure) expenditure in excess of cash received.

        

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