Prior to the closeout period, ORS Accounting will request confirmation from that all expenditures have been recorded in the university financial system and the project account is ready to be closed. Confirmation notices will be sent to the lead PI and lead FA listed on the contract control account in the university financial system. PIs and FAs are responsible to make sure that these names are kept up-to-date.
Once confirmation is received from the FA, ORS Accounting will file the final financial reports and submit final invoices and/or letters of credit, and no further expenditures will be allowed. The PI’s department will be responsible for all expenditures made after the final financial report is submitted.
For specific details on the closeout process, see AP 12.412.