Closing the Award

The fourth stage of the post-award life cycle is the award closeout. Closeout is a process the UofM must initiate in preparation for the expiration or termination of a sponsored award. Grants and Contracts Accounting (GCA) is responsible for ensuring that reporting and deliverable requirements are completed to formally close an award.  Closeout is a collaborative effort that all parties at the central and decentralized research units are responsible for in an effort the meet the closeout guidelines according to the terms and conditions in the NoA and federal policy. 

When closing out an award, remember the following guidelines:

  • Generally, all projects must be closed out within 90 days of the award end date
  • Requirements for award closeout are determined by Federal Agency standards and the specific award terms and conditions
  • The GCA Office will support Principal Investigators (PIs) and departments with the administrative closeout of a sponsored award, including submission of final technical, progress, patent, and property reports
  • Financial closeout of an award—including submission of financial reports and invoices—is managed by GCA.  
  • The PI, GCA, and OSP official may be required to complete and submit the specific final reports described below: 

In addition to the Uniform Guidance requirements, the Grants Oversight and New Efficiency (GONE) Act became Public Law No. 114-117 on January 28, 2016. This Act was implemented by Congress to ensure the timeliness of agency closeout for expired grants. Agencies are now required to annually submit a report to Congress that includes a list of the 30 oldest Federal grants that have not been closed. Institutions identified on this delinquency report could experience adverse funding impacts, so it is essential the UofM remains in compliance with all reporting requirements.

If you have questions regarding this or any other Closeout Reporting requirements, please reference our Project Closeout Checklist or email opam@memphis.edu.

  • Monitor burn rate to date to uncover underspending and potential overspending.
  • Equipment and property purchases charged to the award should be finalized. Equipment ordered after this date needs sponsor approval or a written justification to explain the special circumstances for this exception. 
  • Check your agreement terms for final invoicing instructions. Begin reviewing the award’s financial records now to ensure all valid, allowable expenditures will post to the award in the month before the final invoice is due. 
  • Contact sub-awardees to notify them of the date by which final reports and a final invoice (clearly marked as “Final”) must be received to ensure payment.
  • Is there an associated cost share account? If so, will all cost share commitments be fulfilled by the end of the award? Start working now to:
    • ensure funds are transferred to c/s account codes and expenditures are posted per c/s agreement,
    • obtain all documented in-kind contributions to provide to Cost Share Accountant,
    • confirm with subawardees that their c/s commitment will be fulfilled and reported, if applicable.

  • Continue working on any incomplete tasks still outstanding from the 90-day list above.
  • Labor charges:
    • Confirm salary is charged correctly to the project.
    • Arrange with PI to transfer excess salary to another account code type
    • Revise personnel appointments paid from this award so they are paid from another funding source after the project end date. Submit the effort change request to the assigned GCA for execution before the project end date.
  • Verify that tuition charges on the award are associated with the correct students?
  • Verify all equipment expenditures are appropriately charged and accounted. Handle appropriate cost transfers.
  • Are all expenditures allowable, allocable, reasonable, and consistent with the terms of the agreement? 
  • If there is a fabrication, ensure that all expenditures charged to the fabrication type are appropriate and that all expenditures for components of the fabrication are accurately charged to the fabrication account code type. (Questions related to fabrications may be sent to property@memphis.edu). 
  • Is there government property on this award? Contact GCA (grant@memphis.edu) to schedule an inventory in preparation for final report. Have we requested or received disposition? 

  • Complete all previous tasks that have not yet been addressed and work on the final closeout steps.
  • Will all charges be processed and posted (purchase orders, procurement card purchases, and travel reimbursements)?
  • Close encumbrances that are no longer needed. (Complete Change Order in Tigerbuy)
  • If any inventions, patents, or copyrights have resulted from this award, verify that the appropriate paperwork has been sent to the Technology Transfer Office. If no new technology resulted from this award, notify GCA. (grants@memphis.edu)
  • Are all effort forms certified?
    • If notice for effort certification will not be released until after the project end date, ensure the salary amounts for all personnel paid in that semester are correct so their effort certification form can be certified as soon as they are generated. (Contact GCA at grants@memphis.edu with questions.)
  •  Verify that the project is current with all prior technical reports. Confirm project PI is working on the final technical report to be submitted before the required deadline

  • Repeats the same actions and tasks as the 90-60-30 days prior to end date (i.e. work with GCA to
    transfer expenses & deficits, transfer job labor distribution, accrue unposted expenses).
  • Submit Closeout Certification to OPAM: Documentation (sponsor specific, if required), Cost share
    report if applicable, Unliquidated obligations.

  • Repeat the same actions and tasks as the 90-60-30 days prior to end date (i.e. work with GCA to
    transfer expenses & deficits, transfer job labor distribution, accrue unposted expenses).
  • PI prepares and submits the Final Report(s).

  • PI submits Final Report(s).

Roles & Responsibilities

Principal Investigator (PI):
  • Final technical and NSF final outcomes reports
  • Department Closeout property reports
Grants & Contracts Accounting (GCA): 
  • Final Financial Reports
  • Final Invoices & Final Payment Requests
  •  Cost Share fulfillment reports 
  •  Certification reports 
  •  Subaward Closeout 
  •  Final property reports 
  •  Verification of protocol compliance 
  •  Summary of research reports (for NASA awards ONLY) 
  •  Award Research and assignment