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Award Closeout

The Office of Research and Sponsored Programs (ORSP) provides termination alerts to the assigned Contract and Grant Specialist (CGS) 90 days prior to the end date of the award. The CGS reviews the alerts and notifies the Principal Investigators (PI) of the impending termination of the funded projects in order to close-out all financial obligations in advance of the end date.

Generally, the university is allowed ninety (90) days to officially close an award. This means that the PI, any financial administrator assigned at the college or department level and CGS have up to ninety days to correct errors, post charges that were incurred before the end date, and address other close-out requirements such as final narrative reports.

Your assigned financial administrator or CGS will assist you in closing out the award, terminating and/or transferring salaries to other projects or operating accounts, identifying and inventorying equipment, and resolving other close-out issues with the sponsor. 

Equipment

All equipment purchased with grant or contract funds, becomes the property of the university at the end of the grant period unless otherwise indicated by the funding agency. Your assigned CGS will review the award to ensure agency compliance.  After the end date of the award, all subsequent costs, such as maintenance contracts, will become the responsibility of the custodian of the equipment. PIs and departments need to consult with their CGS prior to the sale or disposal of any equipment acquired with research funds.

Supplies

Federal regulations require institutions receiving federal funds to reimburse the federal government for any inventory of unused supplies in excess of $5,000. To avoid having excess supplies at the end of the grant period, purchase orders for supplies should be submitted no later than 90 days before the end of the grant.

Auditing

Your assigned CGS will inform you of any audit requirements and work with the Internal Audit office to arrange for any required audits.

 

Office of Vice President and Associate Provost for Research and Graduate Studies • Lehigh University • 7 Asa Drive, Bethlehem, PA 18015 • (610) 758-2585