Once the project is complete and there are no extensions of
time the final reports must be submitted. The principal
investigator will need to submit the Final Technical report, in
addition, Post Award will submit the Final Financial Reports required.
If the account has an excess of expense over the budget then
the department must make arrangements to have the correct excess expense
If a residual of funds remain then either a refund to the
grantor will need to be processed if the grant is cost
reimbursable or follow University policy of transferring to the department 5% up to $1,000.00 if
it is a fixed price agreement. Excess above the 5% up to
$1,000.00 will need to be transferred to the Office of Vice President for Research account.
When a project is complete and all reports have been sent and
approved by the funding agency, and all funds have been received
then it is time to deactivate the account from the PeopleSoft Financials system.
Accounts that have been deactivated will remain on the system and
can be reactivated if needed for a period of up to 18 months.
After 18 months have passed, Computer Services will run a purge
program and purge the account from the PeopleSoft Financials system.