Closing Out Your Project
Closeout procedures for federal awards are regulated by
the government and must be adhered to in order to remain eligible
for future funding. OMB Circulars A-110
and A-21provide
guidance on these procedures (if these links are broken, try the
OMB
circulars page). Briefly, you "must submit within 90 calendar
days after the date of completion of the award, all financial, performance,
and other reports as required by the terms and conditions of the
award." All grant obligations must be liquidated by this time
unless you receive written permission for an extension. Unused funds
will be returned to the Federal awarding agency if payments have
been made to the institution.
Internal requirements for closing out grant awards consist of the
PD meeting with the Grants Accountant to reconcile the budget. The
PD must meet with the Director of Academic Research and Sponsored
Projects to review the file to ensure that all documents pertaining
to the grant award are accounted for. The file maintained in the
ARSP is the Audit-ready file and must be kept for at least three
years after the project period ends. PDs who do not respond
to this process may be barred from future proposal submissions until
all files are complete. |
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