An award closeout is the final reconciliation and reporting of expenses and activities. This involves reviewing project expenditures, resolving open commitments, collecting subrecipient documents, and preparing required final reports and deliverables for submission to the sponsor including:
- Financial Reports/Invoices
- Scientific/Technical Reports
- Milestone Deliverables
- Invention/Property Statements
Timeliness of final reporting is crucial to ensure compliance with sponsor requirements. Typical deadlines are outlined below.
|Award Type||Reporting Due Date|
|Federal||90 calendar days after expiration|
|Federal Pass-Through||45–60 calendar days after expiration|
|Other (e.g., Sate of New Jersey)||See Contract (deadlines vary and may be earlier).|
|For units at Rutgers University–Camden, Rutgers University–Newark, and Rutgers University–New Brunswick, the award's final financial report due date may be found in the Oracle COA - All Grant Attributes report or the Researcher's Dashboard.|
Failure to submit reports by the deadline can result in suspension of the principal investigator (PI) and/or university from receipt of additional funding, reimbursement for current costs, and ability to submit future proposals. University closeout policies and procedures were developed to ensure that all sponsor requirements are met in accordance with federal Uniform Guidance standards.
Proactive steps should be taken prior to the award end date to prepare for the deadline. Such activities involve the combined effort between the PI, the department/unit administration, and GCA. To ensure timely and accurate closeout of the award, standard communications will be sent to the PI and department/unit administration according to the estimated timeline below.
Award Closeout Communications
The estimated timeline above is most directly applicable to awards with standard closeout periods of 60 or 90 days. Exact communication dates may vary depending on sponsor deadlines and GCA workload, especially for expedited closeout periods of less than 60 days. Please reference the Award Closeout Timeline Estimator [XLS] to help you outline expected communication dates for a specific award.
|Automatic Notification||Notifies the PI/department of upcoming award expiration|
|Reconciliation Review||Requests the PI/department to review the preliminary account reconciliation by GCA|
|First Escalation*||Reminds the PI/department to review the account reconciliation by GCA|
|Second Escalation*||Cautions the PI/department that the final report/invoice will be submitted according to the account reconciliation by GCA if immediate response is not received|
|Final PI Approval Confirmation||Requests the PI’s confirmation of the final account balance, completion of all contractual commitments, and submission of all reports required by the sponsor|
|*Escalations will include the department chair, director, or dean, and will only be used in the event of non-responsiveness by the PI or department.|
Principal Investigator Responsibilities
The Departmental Checklist [PDF], which is created from Updates to Posted Forms, provides a full list of closeout action items for completion. For more information, view details regarding carry-forward, residual balances [PDF], gift assessment fees, invention statements, and overdrafts.
The principal investigator (PI) bears the responsibility to:
- Review GCA's account reconciliation detailing the final expenditures and award balance to verify accuracy of the final Financial Report/Invoice. Submit any adjustments to GCA, including those related to unallowable, questionable, or overdraft expenditures.
- Prepare and submit any required Scientific/Technical Reports or Milestone Deliverables to the sponsor. GCA does not require a copy of the PI’s Final Technical Report. However, GCA does require either a copy of the transmittal letter to the sponsor, or notification by the PI/department that the final technical reports/deliverables have been submitted to the agency.
- Complete any required forms related to Invention and/or Property Statements and send to GCA for review. Reach out to GCA in order to obtain sponsor-specific templates if necessary.
- Provide GCA with the PI’s approval confirmation of the final account balance, completion of all contractual commitments, and submission of all reports required by the sponsor.
Grant and Contract Accounting Responsibilities
We bear the responsibility to:
- Provide the PI/department with the account reconciliation for review. Coordinate with the PI/department to ensure that all expenditures are finalized and adjustments are processed in order to reach a final account balance.
- Prepare and submit the final Financial Report/Invoice according to the finalized account reconciliation.
- Submit any required Invention/Property Statements completed by the PI to the sponsor.
- Close sponsored award fund sources/indices in the financial system.
Invention Statements should be provided directly to the GCA Accountant/Analyst during the Award Closeout process. View the table below to understand the invention statements process.
|Invention Statement Process|
|Step 1:||PI/department fills out the Invention Statement form. Reach out to the GCA Grant Accountant/Analyst with any questions regarding specific templates required by the sponsor. Verify accuracy of included information:
Return the completed form to the GCA Grant Accountant/Analyst.
|Step 2:||GCA verifies information and sends the completed Invention Statement form to the Office of Research Commercialization (ORC) for approval.|
|Step 3:||ORC verifies accuracy of the Invention Statement content. If revisions are required, the form is routed back to the PI/department for revision.
Upon approval, ORC signs the Invention Statement and sends it back to GCA.
|Step 4:||GCA submits the approved Invention Statement to the sponsor with the final invoice/report.
When applicable, GCA will approve the Invention Statement in eRA Commons.