What do I need to do when my fixed-price contracts are complete and there are remaining funds available to use?

• The principal investigator should ask the department head to send a letter through the Sponsored Programs office to the Department of Contracts and Grants indicating the project is complete, all final program reports have been accepted by the sponsor, and request that the account end date be open-ended. Contracts and Grants will confirm with the department that all funds due the University have been received, the reasonableness of the cash balance, and open-end the account, as appropriate. The remaining funds can then be used for any "State approved" expenditure. The applicable indirect costs will continue to be charged to the account until all funds have been depleted and the account has been closed.