Contract and Grant Year-End Closing

For the Contract and Grant fund group, accounts will be closed at First Closing.

This means no transactions will be processed against these accounts after Friday, July 6, for the fiscal year 2006-07. All transactions after that date will be booked into 2007–2008 fiscal period unless there is explicit approval from Contract and Grant Administration.

All cost transfers for 2006-07 involving grant accounts should be completed before the First Closing. Please read Important Notice 03-2 (see Important Notice 03-2), to learn more information about timely transfers of expenses to and from grant accounts. Transfers across fiscal years will be more heavily scrutinized in the coming year. Transfers outside 90 days or across fiscal years will be more heavily scrutinized.

If you have any questions or need more information, please contact Contract and Grant Administration by email at cgadmin@indiana.edu