3.2. Closing the project financing source

Once the last grant payment has been received, the Finance Office will send an overview of the financing source to the project manager and the contact person in the Research Administration Office. If the balance of a financing source is negative (uncovered own contribution, uncovered ineligible expenses), the project manager shall make a written submission to the Project Accounting and Reporting Division (Siret.Malleus@taltech.ee indicating the source from which the balance is covered.

The guidelines for monitoring your project budget are provided in chapter “Ways to monitor project budgets”.

Information on the most common ineligible expenditure can be found in chapter “Possible ineligible project costs “.

Documents or correspondence related to the project in the possession of the project manager or other persons involved in the project must be added to the project folder before archiving.

After this operation the financing source is closed and the action consultant of the Research Administration Office (the contacts can be found HERE) archives the project folder in the document management system.

If an advance payment has been made for a project and it has not been covered by eligible project-related costs (for example in the case of research grants funded by the Estonian Research Council ETAG), the balance must be returned to the funder's account after approval of the last report. Once the expenses have been verified, the Project Accounting and Reporting Division in cooperation with the Research Administration Office shall arrange the return after receiving the project manager’s e-mail to that effect. After that, the financing source can be closed and the project folder can be archived.