Close-Out Award/Award Ending
Grant Closeout is the process by which the sponsor determines that all applicable administrative actions and all required work of the award have been completed.
Preparation for Closeout
At least 90 days before your project’s end, we advise PIs to:
- review your project to ensure that financial expenditures are reconciled and return any funds that may be due as a result of refunds or corrections (If you need assistance, work with your Grant Accountant.)
- complete all obligations the program requires
- prepare all required reports. (Also ensure they are submitted on time!)
PI Checklist for Closeout
A detailed overview of tasks that must be completed in order to properly closeout a project.
Finalize Expenditures
Ensure that all expenditures have or will be processed before the end date, including but not limited to:
- payroll
- sub-awardees/consultants
- purchases (purchase prders, etc.)
- travel
- scholarships
- p-card transactions
- internal billing (which you may need to follow up on as they can be slow to bill).
The account will be closed 60 days after the project end date to allow your grant accountant to complete the final financial report and invoicing. Expenses that arrive after that date will instead hit your unit’s ICR account.
Responsibility of PI during Closeout
- Submit all documentation for expenditures to your grant accountant before the deadline.
- Preliminarily reconcile your account and communicate any expense related, management related, or budget related issues before the end date of an award.
- Submit any programmatic or final reports (work with your grant accountant for the financial reports).
- Make department/unit aware of any over-expenditures or disallowed costs as it will now be the department/unit’s responsibility.
- For federal awards, confirm you have reviewed a final FCC report. Contact your grant accountant if you have not seen an email to do so so they can send/resend the notice.
- Complete any required forms related to Invention and/or Program Income and submit to ORP, if applicable.
Final Report
Per the Notice of Award, it is the grantee’s responsibility to report the progress and financial expenditures of the project. Each sponsor has a different method for reporting. To find the specifics of your reporting, check your Notice of Award.
ORP is responsible for any financial pieces of the final report. If you need financial pieces for your final report, please reach out to your grant accountant. If you are submitting a programmatic report, please send a copy of the report to your grant accountant.
Final reports (programmatic, financial, etc.) must be submitted within specific timeframes identified in the Notice of Award. It is crucial for reports to be submitted to sponsor’s timely.
Record Retention
SIUE (including PIs and ORP) must retain financial and programmatic records, supporting documents, and any other records that are required by the sponsor/award. All records must be kept for a period of at least three years from the date the final report is submitted. Review the sponsor NOA for specific record retention.
Audits
Projects that involve federal, student or local government funds are subject to be audited. Audits check that all rules and regulations are followed throughout the award and that SIUE has appropriate processes and policies in place. Each year, internal and external audits are performed to ensure SIUE is compliant with regulations.
ORP is the point of contact for research-related audits and keeps record of submitted financial documents, agreements, documentation, etc. However, at times, we may need information from the PI (or designee) to help resolve any questions being asked. If asked, respond as soon as possible. Maintaining compliance is of utmost importance to SIUE.
