Closing Down a Project

We aim to have all project accounts closed or locked within 6 months of the project finish date. The process is outlined as follows:

  • "End of Project" Reminders are sent to the Investigators and Departmental Administrator 3 months prior to the project end date (due to severe penalties for late submission of final reports, 3 reminders will be sent for Research Council grants).
  • The PI should compile and submit any required Final Report within the deadline specified.  (See Final Project Reports).
  • Research Finance will compile and submit required financial statements of expenditure. (See Final Project Reports).
  • Research Finance will remove any ineligible expenditure to a Department DDF code (refer to Departmental Development Funds as described in the University's Financial Regulations).  The PI and/or Departmental Administrator will be informed before this transfer is actioned.
  • Research Finance will process any final overheads (this may be dependent upon receiving final payment).
  • If required by the funding body, Research Finance will arrange for unspent funds to be returned.   For this reason, all costs must be charged to the grant by the end of the closure period. We will contact you before any final claim is submitted and ask you to check that all costs have been processed. 
  • Residual balances will be transferred to the Department's DDF ONLY IF the terms and conditions of award allow for retention of these unspent funds. Research Finance will contact the Departmental Administrator for a code in these instances.
  • Balances must not be transferred to other projects (unless a new contract with the same sponsor specifically allows the carry over of an old contract balance).
  • If work on the project deliverables is continuing and the finish date is to be extended, Research Finance will need a copy of supporting correspondence from the sponsor.
  • The Project will be formally closed once all balances have been dealt with and final payments received. (Research Finance has a debt collector to facilitate prompt payments and provide regular follow-up as required)

 

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Who to contact

Research Support Services Contact details

Tel - (0116) 252 2437 or (0116) 229 7763

Fax - (0116) 252 2028

E mail - RED@le.ac.uk