Closing Your Award

When your project is complete there are financial and technical closeout requirements. These requirements can often be found in your award notice. Your Sponsored Projects Award Analyst will assist you in identifying your award's specific closeout requirements.

Discovery, Intellectual Property and Invention

UB's researchers are required to disclose new technologies and inventions to Technology Transfer.

Award Terming Process

Approximately 90 days prior to the termination of your award, your SPS Award Analyst will contact you to confirm your award is terming as scheduled.

Most sponsors delay final payment to the university until all reporting requirements are met. Additionally, delinquent reports can hinder a PI's ability to obtain future funding from the same sponsor, so it's important to work with SPS staff in completing all reports.

If an award is fixed price and funds remain, the Residual Balance on Fixed Price Contracts for Sponsored Projects Policy will be applied. A completed and signed Residual Account Justification form must be submitted to your Award Analyst to transfer any remaining funds, after all deliverables and project related expenditures have been processed, to a residual account when more than 25% of the total funds received remain.