The University has an obligation to sponsors to bring funded projects to an orderly close and to submit necessary technical and final reports. The required procedures may vary, depending on the policies of the sponsoring agency.
Project Closeout Strategy
Sponsored Projects Administration (SPA) and the Office of Grants and Contracts Accounting (GC) have combined efforts to implement a new closeout strategy aimed at facilitating a total closeout process. This new practice will be effective with awards ending June 1, 2008 and beyond. Cornerstones of the new approach include:
- Early detailed notifications to investigators about awards that are scheduled to close
- Better guidance on problem areas and types of expenditures that typically need to be reviewed
- More active communication between SPA and departments during the award closeout period
- An chronological process to ensure timely problem resolution submission of final financial reports within agency due dates
Announcement of New Strategy
Three notifications will be used to communicate process to investigators and grant administrators:
- Advanced Closeout Notification (DOC)
- Award Closeout Notification (DOC)
- Post Award Closeout Notification (DOC)
The first notification will be sent approximately 60 days prior to the closing date of the award. This notice serves to inform the investigator that the award is scheduled to close and that certain items stemming from grant responsibility will require attention. This notice will also serve to provide Sponsored Projects Administration with written authorization from the investigator to proceed with award closure. Alternatively, if the sponsored project will be renewed for another award term or is expected to receive a no-cost extension, SPA will be notified and the formal closure process will discontinue.
The second notice will inform the investigator and the grants administrator of formal closure. This notice will address the responsibility of final reports and to bring attention to any financial actions that need consideration prior to the production and submission of any final financial statements.
A third notice will only be generated if, by the 60-day post-closure date, items required of the investigator remain outstanding. These include both financial and non-financial responsibilities. This notice will allow a final period of reconciliation and will take further action only if items remained unresolved. This drastic step will only be used if the outstanding items will prevent the University from fulfilling its responsibility of formal closure within a time-frame prescribed by the federal, state or private granting agency.
The new closeout strategy implemented safeguards the University and its investigators by maintaining good research administration practices. This process is designed to assist in the requirements of external funding and to remain compliant in terms and conditions of such funds.
If you have any questions about this new plan, please contact Sponsored Projects Administration or the Office of Grants and Contracts Accounting.