Office of Sponsored Research - 700.02 - Project Closeout


Office of Sponsored Research - 700.02 - Project Closeout


This operating standard encourages reconciliation of sponsored project accounts in a timely, accurate fashion and places responsibility for irreconcilable accounts with the departments.

Policy Statement

Sponsored project accounts are officially closed when their balance in ConnectCarolina equals zero dollars and the project status is closed. The project status in RAMSeS will also be changed to Frozen/Inactive. The Office of Sponsored Research (OSR) supplies the administering department a copy of the Final Report of Expenditures (FROE), which serves as official notification that, pending reconciliation of any outstanding expenditures, an award is moving toward closeout.

Outstanding balances will continue to appear on reports until those balances are resolved. It is, therefore, imperative for the administering award department to scrupulously monitor accounts that are closing to ensure expenditures are necessary and acceptable under the terms and conditions of the award.

I. Corrected Projects by the Department and PI

Continue to monitor outstanding obligations as well as personnel encumbrances to ensure that the transactions are recorded in ConnectCarolina. Any unreported transactions that post to the account must be removed.

II. Underused Funds

Following the project end date, when the total amount of awarded funds is not used, the unused portion is returned to the sponsoring agency. Should the agency allow the University to retain any unused funds, the department is responsible for preparing a request to OSR for the transfer of such funds into a departmental residual account. Note that this applies to fixed price agreements only.

III. Projects in Overdraft

When a project is overdrawn, corrective action must be indicated and promptly initiated by communications with OSR and the administering department. Expenditures incurred too late to be of use during the project period will be diverted for use by, and payment from, another funding source.

Related References

Contact Information

For questions regarding this operating standard and its related procedure, please contact

For questions regarding Pre-Award management or Post-Award administration, please contact the assigned Sponsored Projects Specialist (SPS).

For invoicing, reporting and other financial matters, please contact the assigned Sponsored Projects Accountant. OSR Staff assignments are found in RAMSeS or on the OSR website.


Document History
Date Revision
05/15/2018 Revised to coincide with the release of the new OSR Website.

The operating standards in the Office of Sponsored Research Operating Standards & Procedures Manual supersede any OSR operating standards, procedures and appendices previously included in the University Business Manual, a publication of UNC-Chapel Hill’s Division of Finance.

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Article ID: 132335
Thu 4/8/21 9:29 PM
Fri 3/18/22 5:00 PM
Effective Date
If the date on which this document became/becomes enforceable differs from the Origination or Last Revision, this attribute reflects the date on which it is/was enforcable.
02/19/2021 9:19 AM
Issuing Officer
Name of the document Issuing Officer. This is the individual whose organizational authority covers the policy scope and who is primarily responsible for the policy.
Issuing Officer Title
Title of the person who is primarily responsible for issuing this policy.
Vice Chancellor
Last Review
Date on which the most recent document review was completed.
02/19/2021 9:19 AM
Last Revised
Date on which the most recent changes to this document were approved.
05/17/2019 12:00 AM
Date on which the original version of this document was first made official.
02/28/2009 11:00 PM
Responsible Unit
School, Department, or other organizational unit issuing this document.