Closing your research award at UB
When your project is complete, there are financial and technical closeout requirements. These requirements can often be found in your award notice. Your Finance Manager will assist you in identifying your award's specific closeout requirements.
Discovery, intellectual property and invention
If your research resulted in new technologies or inventions, you are required to disclose to Technology Transfer. Learn more about your obligations, when to disclose and how to disclose.
Award terming process
Approximately 90 days prior to the terming of your award, your Finance Manager 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.
File no-cost extension
If your project requires a no-cost extension (NCE), complete the No Cost Extension Request Form. Most sponsors have specific guidelines for what information is required and when you can request a no-cost extension, so it is important to discuss your plan to request an extension with your Finance Manager at least 90 days prior to the end date of your project.
Submit all final reports and documentation
If your award will conclude, most sponsors require a final progress and financial report to be submitted. Additionally, some sponsors may require specific close-out reports or documentation to be completed (e.g., final invention report, property report, release of claims form, etc.). SPS may need to complete close-out forms/documents that may require PI input and coordination with the official institutional representative that signs or submits a final technical and other reports.
Confirm expenditures
In preparing to close out the award, you will work with your Finance Manager to review and confirm that all expenditures have posted to your award.
Closing your award
Once final expenditures have posted, SPS will move forward with close out activity. An award is officially closed once all funds are received and all deliverables are met, including reporting.
Submit residual account justification
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.