Fiscal Close - Grants (Uniform Guidance)

Dear Principal Investigators, Department Administrators, and Research Support Staff,

As we approach the close of Fiscal Year 2026, we would like to thank you for your continued dedication to advancing research and maintaining strong financial stewardship across your sponsored projects.

Year-end is a critical period for ensuring that all financial activity is recorded accurately, complies with sponsor requirements, and supports a smooth and audit-ready closeout process.  Your proactive attention during this time plays a key role in maintaining the integrity of the University’s research portfolio.

Key Reminders for Fiscal Year-End

  • Review Grant Expenditures
    Please carefully review all charges to confirm they are allowable, allocable, reasonable, and within the approved budget. Early identification of discrepancies helps minimize late adjustments and audit risk.

  • Timely Submission of Expenses and Invoices
    Ensure all expenses for goods and services received on or before June 30 are submitted promptly.
    o Expenses incurred by June 30 must be recorded in FY26
    o Expenses incurred on or after July 1 will be recorded in FY27

  • Salary and Labor Allocation
    Verify that salary and wage charges accurately reflect effort performed on your awards. Any necessary corrections should be submitted as soon as possible to ensure compliance with effort reporting requirements. For summer, please refer to the University’s SUMMER SALARY POLICY.

  • Cost Transfers and Reallocations
    All non-salary cost transfers and expense reallocations should be reviewed and submitted within the established deadlines. Timely processing is essential to maintain accurate financial reporting.

  • Subrecipient Activity
    Confirm that all subrecipient work is complete and associated invoices are received and approved in a timely manner.

Awards Nearing Closeout
If your award is approaching its end date:

  • Ensure all allowable expenses are posted before the award expires
  • Submit final invoices and resolve outstanding transactions promptly
  • Coordinate closely to meet grant deliverables and milestones
  • Initiate extension requests early, if additional time is needed

Timely and complete closeout is essential to meeting sponsor expectations and safeguarding future funding opportunities.

Our Shared Commitment
Maintaining compliance with sponsor requirements—particularly under Uniform Guidance—is a shared responsibility. Your diligence helps ensure:

  • Accurate financial reporting
  • Reduced audit risk
  • Strong institutional reputation
  • Continued success in securing future funding

We Are Here to Support You
This guidance builds on Anthony Grono’s recent communication and reflects close coordination across Finance, Strategic Sourcing, and Accounts Payable. Our collective attention to timing, documentation, and thoughtful spending ensures strong financial stewardship and positions Fordham well for Fiscal Year 2027.

Our team is available to assist you throughout the year-end process. We encourage you to reach out early with any questions or concerns so we can work together to ensure a smooth, efficient, and compliant close. You can contact us at  [email protected]

Thank you again for your partnership and continued commitment to excellence in research administration.

Sincerely,
Bibiana Solis
Manager, Grant Accounting and Compliance