Award closeouts generally require that a series of final reports be submitted to the project’s sponsor. It is essential that these be prepared and sent on time. The terms and conditions of the award will specify what should be sent, when, and to whom.
Sponsors generally require a basic set of reports in order to close an award. It is important to complete all the requirements in the time frame stipulated by the sponsor, which are stated in the terms and conditions of the award or contract typically within 90 days.
Non-compliance in this regard can lead to the debarment of the Principal Investigator (PI) from receiving subsequent grants from the sponsor. Ultimately, it can even lead to the debarment of the University from receiving grants from the sponsor because the University is held responsible for all required closeout documents.
- Writes and submits a final report to the sponsor in the time required by the terms of the grant
- The PI is responsible for ensuring all expenses are properly allocable and allowable to the grant
- If inventions were disclosed on the project, coordinate with the Office of Technology Management to ensure that a complete final invention report is submitted
- If the sponsor loaned equipment, coordinate with the Office of Sponsored Programs for final disposition of the equipment
Office of Sponsored Programs
- Prepares and submits the final financial report to the sponsor and returns any unspent funds
- Prepares and submits a final equipment report if required