Setting the date for an automatic process to run

When using the start event settings on a start node I can set when the process model runs automatically. For example I can tell it to run on the 25th of every month. However, if I want it to run on the last day of the month which is different every month then I need to add some logic to it. Is this possible? I have setup the following logic as the day for the process model to run which seems correct to me. 

=day(eomonth(today(),0))

Has anyone done something similar, if so was it the same way above?

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