Award Closeout
Fiscal Close
The Controller’s office will close the grant in the accounting system 60 days after the project end date or earlier if specified by the grant documents. Expenses outside the grant period are not allowable and will be moved off the grant. In addition, if the grant is overspent, the expenses incurred in excess of the grant award amount are not funded and must be moved off the grant. These unallowable expenses will be applied to the PI’s department budget, unless an alternate funding source is identified by the PI.
Record Retention
Records pertinent to a sponsored project must be retained for a period of seven years from the date of submission of the final fiscal or program report (whichever is later). The PI should retain all programmatic reports, copies of research records, fiscal support records and other pertinent documents in the event that the grant is audited. The Finance Department retains records of financial transactions processed.
Grant Audits
In order to comply with the Uniform Guidance, annually auditors will select a sample of federally funded programs and grants. In addition, each funding agency may elect to have their respective grant audited within seven years of the final report, or as specifically outlined in the Award Agreement or contract. If the PI is contacted for an audit, the PI should contact the Director of ORSP to ensure the audit is facilitated efficiently and appropriately. If a grant is under audit, the ORSP and Controller’s Office will facilitate the review and generally have a significant portion of the requested documents; the PI will be responsible for responding to all other questions and to provide supporting schedules as requested.
Announcements
Loyola School of Education receives grant for school-based mental health services
Dr. Maren Blohm receives grant from Maryland Native Plant Society
Loyola faculty receives grant to increase the number of STEM educators working in high needs schools
Loyola faculty associates receive grant to fund training supporting people with disabilities
Loyola faculty member, Qi Shi, receives grant to support STEM education research
Loyola faculty receive grant to help develop courses for special education leaders
Loyola receives grant to enhance vocational discernment in Messina
Read more about all the amazing work being done by faculty across our campus
Research Expense Funds
Limited funds are available for tenured or tenure-track faculty members to cover expenses for research or scholarship. Preference given to activity that supports grant-seeking. See Research/Scholarship Expense Funds for more information.