Expenses near the end of the project
Definition
Charges incurred near or after the end date of an award often warrant increased scrutiny and should be evaluated closely.
Potential Audit Findings
· Charges do not benefit the project
Methods for Managing Risk
· Review purchase requests from PIs/lab personnel closely near the grant end date
· Avoid purchasing items such as equipment in the final months of a grant period.
· Ensure that any purchases made in the last 90 days of the grant period benefit the grant. If the project benefits from a portion of the expense, allocate the cost to the grant according to the proportionate benefit.
· Avoid making substantial cost transfers near the grant end date; however, do make corrections to accurately reflect cost allocations on each project.
· Review monthly statements and review expenses incurred shortly before and after the grant end date for allowability and allocability.