Award Close-Out

Research and Sponsored Programs (RSP) has a responsibility to closeout completed projects in a timely and accurate manner. The award closeout process includes documenting and assuring the fulfillment of the terms and conditions of the award while certifying compliance with applicable regulations. In addition, this process includes the collection of any outstanding accounts receivable and the distribution of any residual funds.


Closeout Procedures & Responsibilities

Upon the expiration of an award, RSP Grants & Contracts Business Managers perform a final review of the expenditure activity over the lifetime of the award and ensure all charges are considered allowable. They will also notify the Principal Investigator (PI) in order to resolve any closeout issues, such as over-expended balances, purchase order encumbrances, or inappropriate or unallowable charges. It is the PI’s responsibility to take corrective action in order to ensure a timely closeout.

The list below summarizes the roles and responsibilities during the award closeout process (the RSP Project Closeout Checklist may be used as a guide):

Principal Investigator (PI)
  1. Ensure all obligations and encumbrances are complete and charged appropriately to the project prior to the end date.
  2. Ensure any monthly recurring expenses (such as copy service, postage/shipping charges or phone service) are discontinued as of project end date or changed to an alternative source.
  3. Ensure any personnel appointments which need to be changed to another salary source are completed at least 2 weeks prior to end date and that any required notices of non-renewal of appointment have been completed per University Human Resources Rules, Policies and Procedures or as otherwise described in Hiring Research Personnel. Adhere to the University’s annual leave policy related to contracts/grants:
  4. Adhere to the University’s annual leave policy related to contracts/grants: (Faculty Handbook 8.I.: Annual Leave for Contract and Grant Salaried Employees)
  5. Coordinate any required documents or reports with subrecipients.
  6. Submit final technical report to sponsor agency and provide a copy to RSP Grants Specialist.
  7. Disclose any intellectual property, if appropriate, to RSP.
  8. Ensure all applications to Institutional Review Board (IRB) for Human Research Participants’ Protection and Institutional Animal Care and use Committee (IACUC) are closed.
Research & Sponsored Programs (RSP)
  1. Notify PI of upcoming end date 90-60-30 days prior to end of project.
  2. Review project expenditures for inappropriate charges or overruns and resolve outstanding encumbrances.

    Deficit Balance - If a deficit remains in a project, funds will be taken from the PI’s seed account to cover the deficit. In the event the PI is unable to cover the deficit, responsibility for the deficit then lies with the department or center and finally with the college or division.

  3. Prepare final invoices along with the final financial and inventory of equipment reports to sponsor in collaboration with PI.
  4. Monitor status of accounts receivable until full payment is received.
  5. Prepare journal entries to recover deficit expenditures or distribute applicable fixed-price residual shares per formula below.
  6. Scan file contents into Banner Document Management System (BDMS) and index.


Fixed-Price Residual Balance Distribution

Unexpended funds will be distributed as follows:‌

Note: If it is determined after the distributions have been made that the agency has over-compensated the university the recovery for any disallowed payments is made according to the approved Deficit Balance procedure (found under responsibilities for RSP above).

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