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Comprehensive Guide to Project Closeout Procedures for Sponsored Projects

This guide outlines essential steps and requirements for closing out sponsored projects effectively. It covers actions to be taken 90 days prior, including reviewing encumbrances, allowable costs, and final billing activities, as well as determining if no-cost extensions are needed. After the project end date, compile final accounting documents, ensure all encumbrances are recorded, and confirm costs with OSP. The process includes necessary reporting requirements and provides a checklist for smooth project closure to meet compliance and record retention standards.

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Comprehensive Guide to Project Closeout Procedures for Sponsored Projects

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  1. SPONSORED PROJECTS CLOSE OUT GRID Departments OSP 90 days before budget/project end date • Review 3 months forward for final closeout • Will no-cost extension be needed? • -Have the necessary requirements met (cost sharing, etc.) • Review 3 months forward for final closeout • Will no-cost extension be needed? • Have the necessary requirements been met (cost sharing, etc.) During budget/project end date month -Review Encumbrances (PO’s payroll, travel, etc.)-Review Subaward billing activity -Allowable costs -Cost Share/In-Kind Commitments -Review Personnel $ • Discuss with Dept Encumbrances ( PO’s, payroll, travel, etc.) • Subaward Billing activity • Allowable costs • Calculation of F&A costs • Cost Share/In-Kind Commitments • Key Personnel % of sal commitment (proposal/award vs.OGA) Within 60 days after budget/project end date • -Compile final accounting package and fax it to OSP • -Copy of outstanding encumbrances • -Call sub-recipients for Final Bill (if needed) • -Request copies of PI’s reporting requirements • (i.e. progress, invention, etc.) • -Compile final accounting package with Dept. • Copy of outstanding encumbrances • Copy of journals for F&A adjustments • Call sub-recipients for Final Bill (if needed) • Request copies of PI’s reporting requirements • (i.e. progress, invention, etc.) Within 90 days after budget/project end date • All Encumbrances should be reflected in OGA • (Sub bills, PO’s, travel, etc.) • -Final allowability review of charges to period of award period • -E-mail OSP Manager confirmation of costs • -Request OSP to Freeze account • -Interim/Final Report copies from PI to OSP (progress, invention, etc.) • - All Encumbrances should be reflected in OGA (sub bills, • PO’s, travel, etc.) • All F&A Adjustments should be reflected in OGA • Final allowability review of charges to period of award period • Request from Department confirmation of costs • Interim/Final Financial Report to be completed • Freeze account • Interim/Final Report copies from PI (progress, invention, etc.) Within 120 days After budget/project end date -Send any information to OSP that should be sent to records retention with official grant file. -Complete “Grants Closeout Check List” - Close out PTAEO Account ( 7/07)

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