Close Out Project

General Information

The close out phase of a project should be completed in a timely manner after the end of the approved project period. It is recommended that the closeout process begins during the last six months of the project period. The close out phase includes ensuring that project work is completed, required reports are submitted, ensuring final expenses are posted to the assigned index(es) and that final payments are received.

On This Page
Forms
Roles & Responsibilities
Process

Forms

Roles & Responsibilities

The following is a general overview of the roles for those involved in the closeout process:

USU Principal Investigator (PI)

  • Coordinates with SPO to request an extension if work will not be completed by the final day of the approved project period.
  • Monitors available balance to avoid overspending during the final months of the project.
  • Ensures the final expenses post to the project index(es) in a timely manner so that final invoices can be submitted according to the contractual due date.
  • Avoids charging expenses that would be considered audit “red flags”.
    • Equipment within the last budget period
    • Large purchases of supplies or other expenses at the end of the project to spend down available funds.
  • Submits required technical/progress reports on time according to the sponsor deadlines.
  • Provides a copy of the final report to SPO for uploading into Kuali.
  • Coordinates with SPO to submit reports (non-financial) that require signature from an authorized official.
  • Coordinates with SPA to close out the award in Banner.
  • Coordinates with SPO to close out the award in Kuali.

Sponsored Programs Office (SPO)

  • Assists with the submission of requests for extensions.
  • Assists with the submission of requests for extensions.
  • Monitors report submission deadlines and sends reminders to faculty of overdue reports.
  • Closes out the award in Kuali.

Sponsored Programs Accounting (SPA)

  • Submits final invoice for payment or drawdown final unpaid amount directly from sponsor.
  • Submits final financial reports (e.g. SF425).
  • Closes out the award in Banner.

Process

1

Six months prior to end date

  • PI evaluates work left to be done to determine if an extension is needed.
  • PI monitors index(es) to ensures that final expenses are posted to the index(es) in a timely manner.
 
2

Project Ends (0-60 days after end date)

  • PI ensures final expenses post to the final expenses post to the index(es) prior to the deadline for final invoice submission. (This date can be found in the award agreement.) Most awards have 45-90 days before a final invoice needs to be submitted, however expenses need to be posted to the index so that the month-end process can run for reporting purposes.
  • SPA submits final invoice for payment.
 
3

Close Out (61-120 days after end date)

  • Final payment received.
  • SPA submits final financial report
  • PI submits final technical report(s) and coordinates with SPO to submit final report(s) that require signature from an authorized official.
  • SPA and PI coordinate to closeout award in Banner
  • SPO and PI coordinate to closeout award in Kuali.