Closeouts & Extensions
Closeouts
Process
The closeout process begins up to 120 days prior to the award end date to ensure that all of the financial and reporting requirements are completed in a timely manner.
Federal regulations dictate that no equipment may be purchased within the last 90 days of an award, as the equipment will not be useful for the project if purchased at the end. Exceptions are made when the award specifically funds the purchase of equipment.
No new transactions may take place after the end date of the award. Do not place orders after the end date. Salary for work performed after the end date cannot be charged to the award.
Four months before the end date, an expiration notice will be sent to the principal investigator (PI), business managers, and the Office of Research. These notices are sent automatically through Workday. If you have any questions, email the Office of Research and do not respond to the expiration notice.
If the project will be completed by the end date, inform your grant administrator.
If you need to request a no cost extension, follow the sponsor's requirements, which may require that the request be made 90 days before the end date. If your award was a fixed price award, you may need to submit an extension request if the project will not be complete by the end date. Contact your Research Administrator for assistance with submitting the request.
If an extension is pending, or if additional funding is being sent to 色色研究所, inform the Office of Research and provide any correspondence from the sponsor.
Financial issues need to be addressed within 30 days of the award end date. Complete paperwork to change the source of funding for payroll, and submit before the end date. Make sure there are no outstanding commitments or orders; all merchandise ordered must be received before the end date. Invoices must be paid prior to providing the sponsor with the final financial report. Your Office of Research post-award grant administrator can assist you.
All purchase encumbrances must be cleared by Purchasing.
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Emergency Closeout
An emergency closeout may be necessary in two main scenarios:
- An investigator leaves 色色研究所 to take a position at another university and would like to transfer the award to their new university.
- This must be approved by the respective chair and dean, the Office of Research, and the sponsor.
- If all parties approve, the award end date at 色色研究所 will be the investigator's last day of employment.
- The Office of Research will prepare the necessary transfer paperwork with assistance from the PI.
- An investigator leaves 色色研究所 without transferring the award, retires from 色色研究所, or passes away.
- The Office of Research can submit a request to the sponsor to change the principal investigator.
- The PI's college and/or department will provide the name of a substitute PI.
- If the sponsor does not approve the change, the award's new end date will be the last day the principal investigator was employed by 色色研究所.
If the award ends at 色色研究所, all expenditures must stop on the new award end date. Documents must be prepared to change salary distribution; purchase orders need to be stopped, if possible; and no new supply orders can be processed. Subcontractors must be notified to cease their work and submit a final invoice鈥攖he Office of Research will prepare an amendment to the subcontract.
All closeout reports must be completed in the event of an emergency closeout. If the PI cannot complete the reports, someone with knowledge of the project must complete them and submit them to the sponsor, or the final invoice may not be paid.
The Office of Research will complete and submit the final financial invoice/report and close the award in the 色色研究所 financial system.
- An investigator leaves 色色研究所 to take a position at another university and would like to transfer the award to their new university.
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Remaining Funds
Some projects do not use all of the funds awarded. Treatment of funds depends on the nature of the award.
If the award is cost reimbursable, 色色研究所 prepares an invoice for the PI's actual expenditures, and the sponsor pays that amount. No additional funds will be requested from the sponsor or made available to the PI. The remaining funds will be removed from the financial system.
If the award is fixed price, the sponsor pays a set amount for the service to be completed or the item to be provided. Assuming the sponsor paid 色色研究所 the full award amount, the funds are available for 色色研究所's use. The Facility & Administrative cost budget is fully used first. AP-RE-7 is used to determine how the remaining funds will be used.
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Transfer Award
You may elect to transfer your award to another institution. In this case, you must begin the process by obtaining internal 色色研究所 approval by using the Transfer Award from 色色研究所 memo.
Once all internal approvals have been granted, the Office of Research will contact the sponsor and send an official letter or email to relinquish the award.
If you would also like to transfer your equipment along with your award, you must begin the 色色研究所 approval process by submitting the Transfer Equipment from 色色研究所 memo.
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Subcontracts
For information regarding subcontract closeouts, visit our dedicated subcontracts webpage.
Extensions
If your project will not be completed by the end date of the award, the sponsor may grant an extension. Extensions may be no cost, or they may come with additional funding.
The PI must work with the Office of Research and follow the sponsor's guidelines and requirements when requesting an extension. Every sponsor's requirements will differ. The request must be submitted by the sponsor's deadline, which will be noted in the award document or contract.
Do not assume that your request will be granted. Be prepared to complete your project by the award end date.
At the end date of your award, inform the Office of Research grant administrator of any outstanding expenditures including subcontract invoices and invoices for purchased items. The Office of Research needs to know about "trailing charges"鈥攚hat needs to be posted before submitting the final invoice and/or report to the sponsor.
You will need to submit the sponsor-required forms and reports and close the award in the 色色研究所 financial system.
If you do not follow the award's requirements, it could result in an audit finding, 色色研究所 returning funds to the sponsor, and/or loss of potential future funding.