Final Invoices
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Some cost-reimbursable awards require a final invoice at the end of each budget period or at the end of the award. A final invoice is an invoice that includes any trailing charges related to the period of performance. Final invoices are usually due 30-90 days after the end date of the award.
For the final invoice:
- Allowable and applicable trailing charges must be identified by the business manager to be included in the final invoice.
- All transfers and subsequent charges must be posted by the applicable deadline (see OBFS Closeout Policy (link)).
- The Banner budget may be reduced to match the cumulative amount indicated on the final invoice.
For awards with multiple budget periods, the award document will describe whether unspent funds from one period can be used in subsequent periods (i.e. automatic carryover).
- If automatic carryover is NOT allowed a final invoice is required each year.
- If automatic carryover IS allowed a final invoice is only required after the final award end date.