All awards have different reporting requirements and end dates that require a variety of closeout procedures. Please read your award carefully to determine the requirements of your award. (NOTE: The Office of Sponsored Programs (OSP) will indicate the appropriate reporting section in the Activation Memo at the initial award activation.) Timeliness of reporting and closing out an award is crucial to sound award management to assure full compliance with the agency regulations and to assure collection of all monetary reimbursement for costs.
To review the Close-out Procedure in full, please consult the Office of Budget and Controller/Sponsored Projects Accounting.
Last Steps and What to Expect:
- If an award is terminated, then termination modifications may be needed and closeout documents should be sent by the sponsor.
- If the award contained Third Party Agreements, then termination modifications should be sent to the sites.
If a closeout is received by OSP, it will be forwarded to the department and any other necessary central offices (e.g., Sponsored Projects Accounting). If the department receives the closeout request prior to other central offices, then it should be forwarded to OSP and Sponsored Projects Accounting.
- Final Closeout usually consists of two parts:
- Fiscal Closeout (includes items such as: final invoice, subcontractor assignment of refunds, rebates and credits statement, as well as subcontract release forms) – work with Sponsored Projects Accounting
- Intellectual Property Certification (includes items such as: Final Invention Statement, Patent Report, equipment purchases and equipment ownership information statement) – work with Office of Sponsored Programs
- Sponsored Projects Accounting typically prefers OSP to submit the Final Closeout package to the Sponsor - Typically, OSP will hold packet until all documents are received from the department.
- Federal Contracting may utilize the Contractor Performance Assessment Reporting System (CPARS) for the Final, Annual, or Interim Progress Reports:
- OSP will download the report and send it to the PI/Department for review/comment.
- PI/Department will need to send the response to OSP by the due date (typically 30 days). (Can be as simple as an email stating that the PI/Department “agrees” with the statements contained in the report.)
- OSP will institutionally endorse report based on PI/Department response.