1 / 1

Guidelines for Sponsored Projects Closeout Process

This document outlines the essential steps for closing out sponsored projects, ensuring compliance and timely submission of required documents. It details interactions with the Department Grant Manager regarding no-cost extensions, remaining encumbrances, and the final invoice preparation. Key actions include reviewing allowable costs and subawards, confirming final direct costs, following up on final invoices, and ensuring progress reports are submitted timely. All tasks must be completed within specified timeframes to ensure a smooth project closeout.

elsu
Télécharger la présentation

Guidelines for Sponsored Projects Closeout Process

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. SPONSORED PROJECTS CLOSE OUT GRID SRM DGM • Find out from the Department Grant Manager if the PI will be requesting a No-Cost Extension or if the award will be spent out by the end date. 90 days before budget/project end date • Will a No-Cost Extension Request be needed? Or will the award be spent out by the end date? During budget/project end date month • Review Remaining Encumbrances (PO’s, Payroll, Travel, etc.) including Cost Share PTA Accounts (if applicable). • Review Subaward Invoice activity on each Subaward Agreement for that award (if applicable). • Review Allowable Costs • Review Personnel Costs • Discuss with Department Grant Manager Remaining Encumbrances ( PO’s, Payroll, Travel, etc.) including Cost Share PTA Accounts (if applicable). • Once the Department Grant Manager has emailed a confirmation of Final Direct Costs along with copies of all outstanding transactions. The Sponsored Research Manager needs to do the following: • Do a Final Indirect Cost Reconciliation • Prepare a Closeout Packet so that a Final Invoice or a Final Financial Report can be submitted to the sponsor. Within 60 days after budget/project end date • Email your Sponsored Research Manager a confirmation of Final Direct Costs. • Email your Sponsored Research Manager copies of all Outstanding Transactions. • Follow up with each Sub-Recipient on the status of their Final Invoice (if applicable). • Remind PI’s of when their Final Progress Reports are due to the sponsor. • Make sure the Final Invoice or Final Financial Report was submitted on time to the sponsor. • Work with the Department Grant Manager to make sure all Final Outstanding Transactions have hit the PTA Account. • PI’s are only responsible for sending to the sponsor their Final Progress Report, OSP is responsible for sending the sponsor all other Final Closeout Reports (Invention, Contractor’s Release, etc.). • Contact Procurement to close out all PO Encumbrances for that award. • Make sure all Final Outstanding Transactions have hit the PTA Account. Within 90 days after budget/project end date

More Related