icon View the Close Memo template

Before an award can be closed on campus, a UCSB Close Memo must be prepared by the department administering the award. The close memo must be signed by the principal investigator and submitted to Extramural Funds (EMF) accounting two weeks prior to the deadline required to submit the final financial report and/or final invoice (e.g., if the award end date is 3/31/12 and all closing documents are due to the sponsoring agency no later than 90 days past the end date, then the close memo must be submitted to EMF accounting no later than 6/15/12). Failure by the administering department to timely submit a close memo to EMF accounting will result in the administering department becoming liable for any payments denied by the sponsoring agency due to late submission of required closing documents by the accounting office.

When completing the close memo, the department C&G Liaison will list any pending expenses that have yet to hit the most current ledger and will have to provide required backup for these expenses with the close memo as described in the UCSB Close Process. It is also necessary for the department to review the final ledger and make sure that the specific object code charges listed on the face of the close memoare either removed from the award or justified as required in the UCSB Close Process and these documents (either removing or justifying the expense) are also attached and submitted with the close memo. Failure to properly complete a close memo, including submission without necessary backup documentation, will result in the close memo being sent back to the department for correction. This will also most likely cause the memo to become delinquent and put financial liability on the administering department. It is imperative that the close memo be properly prepared and completed the first time to avoid problems. Please see the UCSB Close Process for more detailed information.