As the end of the 2014 fiscal year draws closer, the OVPR would like to remind faculty members who are funded through internal grant programs that the university’s end-of-year deadlines apply to all costs attributed to these grants.
Funds awarded for FY 2014 under the FRIP, YIDP, URC, URSA or AHFRP programs must be spent before the end of the fiscal year. Investigators are responsible for adhering to the end-of-year deadlines and no exceptions or extensions can be made, so faculty are encouraged to process grant-related transactions as early as possible to avoid any problems that may result from last-minute purchasing.
Depending on the type of purchase and mechanism of payment (voucher, requisition, departmental purchasing card, etc.), different cut-off times apply to ensure the expenditures are allocated to the correct fiscal year.