6.1 Closeout Guidance

1. Closeout Requirements

Overview

Closeout is the process in which the awarding agency determines that all applicable administrative actions and all required work with the award have been completed by the recipient. Closeout is a post Award activity that officially ends the award relationship.

Closeout starts the day you begin to think about your proposal. Effective research administration over the life of the award will help eliminate problems at closeout. Manage the project closely during the award, not just during the 90 days after the end of the award. Keep faculty and staff informed of the rules.

Set up early and extended PTAs. Review PTAs regularly to avoid last minute transfers. All expenses must post to the PTA within 60 days of the project end date. 

Federal Sponsor Requirements

Federal sponsors have a requirement that closeout documents be submitted to the government within 90 days after the end of the period of performance; therefore, the research administrator must ensure that expenses are complete and have posted to the PTA within 60 days of the project end date.

The Office of Sponsored Research (OSR) reviews sponsored projects at closeout to ensure that costs are allowable, allocable, reasonable, and consistent. OSR then prepares the final financial report and submits it to the sponsor.

Sponsors have up to four years after the official closeout date to conduct a closeout audit. It is also critical that the PI submit all technical and invention reports that are due.

Reports

During closeout Stanford must submit all required financial, performance, and other reports as required by the award, and liquidate all obligations incurred under the award. Sponsors must make prompt payments for allowable, reimbursable grant costs. The award notice specifies the closeout report requirements.

Report Detail
Technical Report

Does the report include:

  • Grant number, PI's name, project title, and performance period, including authorized extensions
  • Significant results of the project
  • Examples of progress
  • Technical difficulties and solutions
  • List of publications, including articles in progress
  • If award contained objectives and deliverables, does my report discuss each of these?
Financial Report

OSR will prepare the final financial report and submit it to the sponsor. Sponsors have up to four years after the official closeout date to conduct a closeout audit. All financial records should be retained for a minimum of four years after closeout, longer if circumstances require it. The four-year retention period can be expanded in the case of lawsuits, patent applications, charges of misconduct, conflict of interest, etc.

Have all project expenditures been posted, i.e., have they appeared on monthly expenditure statements?

Are all project expenditure statements certified? Is the summary of expenditures (for NIH awards) certified?

Invention Report

Does your report include:

  • Name of the contractor and contract number
  • Name of inventor(s)
  • Title of invention(s)
  • Patent or disclosure number
  • Data produced under the agreement
  • Reporting period
  • Royalty income, if any
Property Report

Have you identified all materials and equipment acquired under this award, including property that was:

  • Provided by the sponsor
  • Acquired by my department
  • Purchased by a subcontractor

​Equipment records must be kept for four years after final disposition of equipment or four years after project closeout, whichever is later.

 

 

 

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