Unreconciled Accounts

At end of an award it is particularly important that accounts are fully reconciled within 6 months of the termination date.  By this point OSP has submitted financial reports to sponsors; a revision in these reports indicates weak internal controls, poses audit risks and can lead to sanctions such as loss of expanded authorities. Per the University Policy on Over and Underspent Accounts, changes to financial reports will only be considered under exceptional circumstances and must be approved by the OSP, Director of Financial Services.