Close Out Project
At the end of a project there are important considerations to make sure the project comes to an orderly close. The University has an obligation to sponsors to submit a final technical and financial report. Perhaps inventions or patents are necessary. The necessary closing procedures may vary, depending on the policies of the sponsoring agency and whether the support was in the form of a grant or contract.
Work with your URA to complete each step in the close-out process:
- Payroll: Ensure all outstanding payroll is expensed.
- Travel: Verify that all travel expenses are processed and zero out any pending advances.
- Subcontractors/Consultants: Confirm that all interim and final invoices, as well as deliverables from subcontractors, have been collected and processed.
- PO Encumbrances Closed and Committed Amounts Cleared: Inform Procurement Lead of closure and ensure the Procurement Lead has processed all open commitments and closed out any remaining encumbrance balance. Confirm direct disbursements are documented and coded to the correct Expenditure Type
- Associated Projects: If any associated projects exist (for example, Program Income) verify all expenses have been charged to these projects and include these figures in the final closeout.
- Other: Finalize any other outstanding expenses and cost transfer, including internal project costs
- Non-Financial Reports: Verify that all progress and/or technical reports and any other deliverables have been submitted and save verification in workbook.
- Tuition: Ensure all outstanding tuition is expensed.
- Notify Post-Award: Inform Post-Award that all proceeding steps have been completed and award may be closed.
Upon completion of these steps, Post-Award will close the grant in the financial system.