Timeframes and Closing off Accounts

Researchers should ensure the timely completion of projects and grants. All funds must normally be expended by the completion date of the project. In some cases, funding bodies will require return of unspent monies. Funding bodies may withhold a certain percentage of the funding until they receive a final report.

Funding bodies usually require that the funding body be acknowledged in publications arising from the grant. Details such as these are stated in the award agreements or funding rules and must be noted carefully at the outset of the project.

The Office of Research Services monitors and reviews accounts when the project completion date arises to ensure all funds have been expended according to budget and begin a process of closing the account. Should large amounts of funding remain unspent the CI will be contacted to determine if all expenditure for this project has been accounted for correctly or whether the remaining funds need to be returned to the funding body.

Funding can only be used in accordance with the Agreement for that research. Accounts are not permitted to remain open indefinitely for use on further research or other activities.