Expenses near the end of the project
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.