In essence, you must go back to the beginning in order to get to the end. Information regarding project closeout requirements are detailed in the award terms and conditions. Principal investigators (PIs), in coordination with central office and departmental office staff, are responsible for overseeing the proper close out of sponsored projects, including timely submission of all required reports. The normal close-out period is 90 days, except for federal pass-through and state projects as well as certain foundations, which vary from 30 to 60 days.
Common Sponsor Reporting Requirements:
Final Technical Report
The Principal Investigator/Project Director is responsible for timely submission of final technical reports. Specific sponsor requirements for the technical reports are usually defined in the award package.
Final Financial Report
The final financial report is generally due within 60-90 days after the expiration date of the award and is completed by the Office of Contracts and Grants (C&G). The PI should ensure that all costs have been properly reported and posted to the account fund. The final financial report is prepared and submitted to the sponsor by C&G.
Final Report of Inventions
The final report of inventions should include all inventions which were conceived or first actually reduced to practice during the performance of the work. Many sponsors require reports about inventions made during the conduct of research to ensure proper disclosure. The final report of inventions is prepared and submitted to the sponsor by the Office of Sponsored Programs.
If equipment was purchased with funds from the award, the OSP will request that title be transferred to the university. Generally, the university has sole ownership of all equipment acquired regardless of the funding source or method of acquisition.
Final Posting of Costs
The PI and departmental research administrative post award staff must ensure that all costs have been posted to the proper accounts by the sponsor’s deadline. Please check with your post-award departmental administrator to ensure that all costs have posted on time. If there will be a delay in posting, please work with your post-award administrator to ensure that all costs are accurately reported.
If there are any questions regarding project closeout, please contact your Grants Specialist sooner rather than later. The Office of Sponsored Programs can assist the Principal Investigator in determining reporting requirements, report distribution, and required delivery dates. Once the project closeout is completed, all project materials, including accounting records subject to audit, are kept on file for the sponsor mandated number of years.