Closeout

Information for Principal Investigators on the steps to be undertaken as their externally-financed grant projects come to their conclusion:

​Grant Completion Notices

Starting four months before the scheduled end of a grant, ORS will send the Principal Investigator, on a monthly basis, a notification that the expiration date is approaching. This notification will include the scheduled end date and the current expenses relating to the budgets (grant and cost-share).

Upon receipt of this notification, the Principal Investigator should consider two questions:

1. Does the project need additional time for completion?
2. Are the project funds being spent (and any cost-share requirements being met) according to schedule?

If the project requires additional time to complete, the PI should take the steps necessary to obtain a no-cost-extension if sufficient funds are available.

If the project funds are not being spent at the correct rate (resulting in either under-spending or over-spending), the PI should consider the following:

• Are the correct individuals being compensated at the correct percentage under the grant?
• Has financial aid been correctly applied to the grant?
• Were Voucher Payment Requests incorrectly coded?

Answers to these questions can be found by reviewing the grant's BlueSky report​.

If the grant is to end on schedule, please proceed to the Grant Closeout section below.

Grant Closeout

Once it has been determined that a grant project is going to be closed, it is the responsibility of the Principal Investigator to ensure the following actions have been completed either before or immediately after the ending date has passed.

1. Ensure that all grant-funded procurements have been completed, encumbered as a Purchase Order, or submitted as a voucher BEFORE THE END DATE OF THE GRANT. *This is very important in that only expenses incurred prior to a grant's end date are allowable. Restricted Accounting may send the PI accrual worksheets to itemize any incurred expenses not yet posted to the account.
2. Prepare any final technical reports required by the sponsoring agency.
3. Contact Restricted Accounting​ to coordinate any final financial reports.
4. Determine to which Department full-time staff previously paid (either entirely or partially) under the grant will be moved. Provide this information to Restricted Accounting​.
5. Contact Procurement Services (2-5273) to invalidate any ProCard accounts assigned to the grant.
6. Inform the proper individuals in Facilities and Tele-communications to inactivate the grant accounts for copiers, telephones, and postage. *Copiers: 2-6285, Phone: 2-8172, Postage: 2-8878

• Ensuring a timely submission of any financial reports to the sponsoring agency
• Closing the grant account within BlueSky
  
• Collecting any outstanding revenue / payments from the Sponsoring Agency
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