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
The 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 Notifications Process
Three notifications will be used to communicate process to investigators and grant administrators:
The first notification will be sent approximately 60 days
prior to the closing date of the award. This notice serves to
inform the investigator the award is scheduled to close and that
certain items stemming from grant responsibility will require
attention. This notice will also serve to provide the 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 grant 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 60-days 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 timeframe 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 questions about this new plan, please contact the Sponsored Projects Administration or the Office of Grants and Contracts Accounting.