I wonder what would be the formal procedure and step according to PMI when you realize that your project ran out of money and no more financing from client is available?

I think no other alternative to terminate the project, but project manager is not accountable for that decision.

According to PMI, what should be the next step, and what should the project manager do after once he/she monitored costs, and he/she determined that the project was not more achievable.

Should the PM manager write an issue in the Issue Log and report it to the sponsor, and let him/her take the decision?

Can you point out the reference in the PMBOK, process or a PMI article to read about it please since I have been googling it for this specific scenario, but no success.

I wonder what would be the formal procedure and step according to PMI when you realize that your project ran out of money and no more financing from client is available?

I think no other alternative to terminate the project, but project manager is not accountable for that decision.

According to PMI, what should be the next step, and what should the project manager do after once he/she monitored costs, and he/she determined that the project was not more achievable.

Should the PM manager write an issue in the Issue Log and report it to the sponsor, and let him/her take the decision?

I have been googling for this scenario, but no success found. Can you point out a reference in the PMBOK, process or a PMI article to read about it please?