ORSSP - Closeout Process and Sponsor Reports

Investigators should be aware of the closing dates of their funded projects in order to close-out all financial obligations in advance of the project termination date. Project accounts will be inactivated on the the termination date and only allowable charges will be allowed to post after that date. Any charges incurred after the termination date will be returned to the respective department.

Investigators should not use the Purchasing Card within 30 days of the termination date of the project without consulting their Grant Coordinator.

Generally, the university is allowed 90 days to officially close an award. This means that ORSSP has up to ninety days to correct errors, post charges that were incurred before the end date, and address other close-out requirements. The Grant Coordinators will send a 60-Day Closeout Checklist form to all Principal Investigators and will also review the project using this form in full preparation for the impending closeout process.

Grant Coordinators will notify investigators and their respective department administrators of the impending close-out through a 60 Day Closeout Checklist, a thirty day notification and final notification. A final notification is also sent to the department head and to the Controller's Office.

Investigators should also be aware of the following:

Deliverables: Check that all deliverables have been submitted and meet agency requirements. If any deliverable is missing, the Principal Investigator (PI) and/or departmental personnel will receive an e-mail from the assigned Grant Coordinator requesting a copy of the deliverable and cover letter submitted to the sponsor.

Equipment: Validate that all equipment purchased by grant or contract funds has been inventoried and tagged. Generally, equipment purchased by external funds becomes the property of the University. Please coordinate with the Grant Coordinator when your project involves the purchase of equipment to preserve appropriate ownership. Also, keep in mind that all equipment purchased with grant funds must be purchased through Procurement.

Closeout Checklists: As previously stated, a 60-day closeout checklist, a 30-day and final closeout notice will be issued to the PI. Please complete each notice a necessary and return this form to ORSSP as soon as possible. The Grant Coordinator will assist each PI in closing the award, terminating and/or transferring personnel to other projects, identifying and inventorying equipment, and resolving other close-out issues. The final notice of closed award is sent to the Principal Investigator, the departmental administrator, the department chair, and the Controller's Office.

Residual Balances: Any residual balances applicable to fixed-price agreements may be transferred to the academic unit, pending adherence to the University policy on residual accounts.

Timely Submission of Reports: Most agencies will withhold funding for future projects from investigators who do not comply with the timely submission of final reports. Many sponsors will also not remit final payment until a satisfactory final report has been received. In this event, the Principal Investigator's academic unit is responsible for expenses that cannot be covered due to incomplete reporting.