Grant Closures

Research Finance is responsible for ensuring the proper closure of all research grant accounts. Before a grant can be closed, the Research Finance team will conduct a thorough review of the grant ledger and confirm the following details with the Principal Investigator (PI):

• Review of Expenses: Confirm that all eligible expenses have been recorded in the Workday grant ledger
• Deficit Clearance: If the grant has expired with a deficit, the PI must provide an over-expenditure clearance plan (as per policy FM4)
• Final Reporting: Ensure all final financial reports are completed, signed off by both the PI and Research Finance and submitted to the Sponsor, as necessary
• Cash Balance Certification: Certify that the grant’s cash balance is $0. Where applicable, any unspent funds will be returned or transferred, in accordance with the terms of the agreement and Research Finance guidelines

After the grant closure is completed, it will no longer appear in your Research Grants dashboard.