McMaster University

McMaster University

Termination/Closure of Account

Researcher

When an research project is not renewed, or funding ends, the Researcher should ensure that all final scientific reporting has been completed. Once this has been done, and Research Finance has prepared the final financial statement, the account will be balanced and closed. Once it has become obvious that the account will close, the researcher should contact the Department and Human Resources, so that the appropriate arrangements (notice of termination of staff, transferring the individual to another grant) can be made for any staff being paid from the grant.

Department

The Department will serve as a resource to both the Researcher and Research Finance, to ensure that the account is closed. They will initiate any sign-out forms for staff paid from the account. As well, any "automatic" monthly charges should be cancelled at source.

HRS/ROADS/MILO

At this stage in the grant process, the above offices will ensure that there are no further "loose ends" relating to non-financial issues such as disposal of equipment and chemicals.

Research Finance

Once it becomes known that a grant has terminated, or not been renewed, Research Finance will ensure that any necessary final financial reports are completed. They will then contact the Researcher/Department, to arrange for closure of the account.

 

 

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