Closing out a Project
Project closeout is the process in which the award recipient demonstrates that all applicable administrative actions and all required work associated with the award have been completed. Effective research administration over the life of the award will help eliminate problems at closeout.
Federal award terms and conditions specify that closeout documentation be submitted to the awarding agency within 90 to120 days after the end of the period of performance.
Some sponsors require that the closeout is completed earlier than 90 days, so it is important that you and your research admin review the terms of the award. For example, most federal pass-through awards require a closeout to be completed within 45 to 60 days of the award end date to allow for the prime recipient to complete a timely closeout of the entire project within 90 to 120 days.
Commonly discussed topics while preparing for closeout include equipment asset tags, invention disclosures, or fabricated equipment capitalization.
Your research admin will work with you to ensure all anticipated expenses are accounted for and reconciled before submitting your closeout.