Award Closeout
Upon the expiration of a sponsored award, Sponsored Research Accounting (SRA), within the Office of Finance and Treasury, performs a final review of the expenditure activity over the award lifetime and ensures all charges are considered allowable. SRA will notify the Department in order to resolve any closeout issues, such as over-expended balances, purchase order encumbrances, or inappropriate or unallowable charges. It is the Department’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.
ORPA
- Works with Department to confirm the closeout of Subaward Agreements or Independent Contracting Agreements
- Works with subrecipients and consultants to obtain final invoices
- Ensures Accounts Payable has issued final payment to subrecipients and consultants
- Prepares and submits final property report
- Closes Coeus award record upon notification by SRA
Sponsored Research Accounting (SRA)
- Reviews Project Grant expenditure records for inappropriate charges or overruns
- Notifies Department of any overruns or expenditure issues in order to resolve in a timely manner
- Resolves outstanding encumbrances
- Reviews cost sharing commitments
- Ensures sponsor payments have been received
- Prepares and submits financial report and/or final invoice
- Notifies ORPA when final financial report has been submitted and Project Grant is ready to be closed in Coeus
Principal Investigator (PI)
- Ensures scope of work is accomplished and results are publicly disseminated
- Manages the expenditures within the award funding limitations
- Completes all Effort Certifications for project personnel in the Effort Certification System
- Prepares and submits technical reports to the sponsor in accordance with the award requirements
Department
- Assists PIs in managing the expenditures within the award funding limitations
- Ensures all cost sharing requirements are properly documented
- Resolves any overruns or expenditure issues with SRA
- Assists PI as needed in submission of the final technical report
