Subject Area: Sponsored Awards
Responsible Office: Financial Services
Sponsor: Chief Financial Officer
Originally Issued: October 1992
Revised: February 2010
Refer Questions To: Christine Sorensen, 773-702-2398
Purpose: To establish authority and responsibility for the close-out of sponsored program accounts.
Policy
- Award accounting should be closed timely, within two months of the submission of the final financial report.
- Financial Services is responsible for deleting the award accurately once all expenditure, receipt and payment transactions have been completed.