Post-Award Administration: Monitoring Your Project
YEAR END SPENDING DEADLINES
As the June 30 fiscal year end nears, certain spending deadlines are implemented on campus. These deadlines do apply to externally funded accounts too so plan your spending accordingly.
CARRYOVER AT FISCAL YEAR END
Unlike most general fund accounts, external funding with project award dates which extend beyond the June 30 fiscal year will automatically be carried forward to the new fiscal year. Note that it is very common for certain spending to post back to the previous year if that is the year the expense was incurred. For example, supplies ordered in June but received and paid for in July will post back to the previous year as will payroll worked in June but not paid for until July. When expenses post back to the previous fiscal year, the appropriate adjustment will be made to the budget balances which have been carried forward.
MONTHLY REPORTS
After month end, the Business Office sends to the responsible person on the grant account a report which details account activity during the past month. Review the report for accuracy and investigate any discrepancies as soon as possible. Further information can be found at Month End Reports.
JULY AND AUGUST MONTHLY REPORTS
At July and August month end, you may receive a second set of monthly reports. The white copy should detail activity in your account occurring in the new fiscal year. If you have spending which posts back to the previous fiscal year that ended June 30, you should receive a second set of reports which are typically printed on colored paper.
