1. Know and understand the award terms and conditions.  Communicate restrictions or special terms to the appropriate parties to ensure compliance.
2. Plan expenses for salaries and other costs in accordance with the award budget and project timelines.  Ensure that all established schedule lines for salaries and requisitions for costs reflect the project plan and actual work to be performed.
3. Routinely monitor expenses throughout the life of the award to ensure expenses are posted to the correct accounts and expenditure types.  Only costs allocable and allowable to the project are to be posted to the account.
4. Make any adjustments to costs timely and in accordance with the institutional cost transfer policy.  Cost overruns should be resolved immediately.
5. Within the last 90 days of the award period review all incurred and planned expenses to determine if project deliverables will be completed on time.  If additional time will be necessary please contact the Office of Sponsored Programs as soon as possible.
6. Within the last 30 days of the award review all expenses and remaining obligations to make sure costs are allowable, allocable and in compliance with the award terms and conditions.   Cancel any remaining encumbrance balances.
7. Remember that all costs incurred in the last 30 days of an award period are subject to additional scrutiny by external auditors.  Any issues or concerns regarding costs in the last 30 days should be communicated to Sponsored Research Accounting unit of Financial Services.
8. Know the award closeout dates and timelines.  Typically 90 days are allowed for closeout of an award but some sponsor may have shorter timelines for final billings or deliverables.
9. Retain and store supporting documentation in an organized manner in order to provide upon request.
10. When in doubt, contact the Sponsored Research Accounting unit of Financial Services 304.293.4002.