The Department/Local Level Managing Unit is responsible for performing a final reconciliation of program income at the end of the award. Also, at the end of an award, and in conjunction with any reporting requirements, OSP Research Finance performs a final review of the program income. This review helps to ensure program income expenditures comply with the sponsor’s terms, including allowability, accounting method, and reporting requirements. OSP Research Finance prepares and submits program income for reporting and returns unspent program income balances to the sponsor according to the sponsor’s terms. The closeout of program income account strings follows the same process under Disabling Sponsored Chart of Account Values.
