The Office of Post Award Services and Financial Compliance has established a process to mark speedtypes for closed and finished projects as inactive throughout the fiscal year. Speedtypes marked as Inactive will still appear on a department’s income and expense monthly reports. However, no additional expenses will be able to be charged to the speedtype including cost share. Finally, Speedtypes marked as inactive will be included on the list to be deleted in July as part of the year end close. We hope the ability to make speedtypes inactive throughout the year will cut down on the number of required adjustments throughout the year.
In order for a speedtype to be marked as inactive the Total to Date Expenses must equal the Total to Date Revenue and the Budget. Additionally, all outstanding revenue must be received.
The form and guidance for requesting speedtypes to be marked as inactive is posted on our website on the forms and policies page.