Sponsored Programs Services

1. Sponsored Programs Services Termed Accounts

2. Topics • Recognition of Term Date • Awareness of Financial Deliverable • Termed Accounts Letter Notification • Taking Action to Balance Accounts • Subcontracts, sub accounts, commitments, etc. • Notification to SPS Accountant • SPS Actions and Procedures • Cost Share Documented

3. Recognition of Term Date andAwareness of Financial Deliverable • Look to your award • Refer to the Award Summary Sheet

4. Financial Report is Due • 

5. Notice of Termed Accounts Letter Please Return To Sponsored Funds at EHP

6. Notice of Termed Account • Review accounts • Return to SFA with closing instructions • Return to SFA with copy of extension

7. Take Action to Balance Account • Submit adjustment forms to Payroll • Notification to Faculty account is closing • Notify Telecomm/CIT of change • Complete Purchase Orders

8. Sub-Accounts and Subcontracts • Clear advance balances • Check Subcontract account • Clear commitments • Did Account have Program Income ? • Complete Cost Share

9. Notify SPS ASAP • No need to wait until you get a statement with a zero balance; notify SPS accountant how the account will close • Get PI’s permission to return unexpended balances

10. SPS Actions and Procedures • Once the account is reconciled to zero, SPS goes through Closing Procedures

12. Pre-closeout

13. SFS Review of Analysis Statements • Look for misused object codes • Make sure travel is within guidelines • Move off all Misc. Exp. NONRECOV. • Check if equipment is allowable

16. Final Closeout

17. THE END