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Office of Research & Sponsored Programs

the grant lifecycle, mount evans observatory

The Grant Lifecycle

Closing out an Award

Various activities are required by ORSP staff, the Department, and the PI to close out a sponsored project or award. Some of these activities involve reporting obligations to the sponsor, financial reconciliations, forms and reports for the institution, and account closeout tasks.

How to Close Out an Award

Approximately two months prior to the end date of project, the Project Administrator will send out a Project Expiration Notice notifying the PI and Department Administrator of the upcoming project end date. The PI must return this to ORSP to confirm the ending of the project, or if additional time will be requested.

Final Invoices and Reports

Upon termination of the project, the ORSP Project Accountant will review the award and work with the Department Administrator to determine the final figure that will be reported to the sponsor on the financial report or final invoice. As part of the close out process, the Department Administrator needs to do the following (if necessary):

  • Notify internal departments and payroll of FOAP changes for recurring costs such as printing, telephone, postage, and salary/fringe.
  • Promptly transfer all erroneous charges, clearing deficits

For most federal awards, final financial reports must be submitted within 90 days from the award end date, and within 60 days for the final invoices. Non-federal deadlines may vary by sponsor. To meet the sponsor deadlines, there needs to be clear and timely communication between Department Administrations and ORSP. ORSP will submit the final financial report/invoice to the sponsor upon agreement with the Department once the final figure is reported.

Post-Award Charges

Post-award charges are costs that occur after the termination date of the project/award. Adjusting and reconciling post-award charges need to be completed in a timely manner after the end of the award to ensure submission deadlines to sponsors are met.

Examples of common post-award charges are:

  • Payroll expenses
  • Telephone costs
Overrun

Overrun, or deficits, happen when expenses exceed the amount awarded by the sponsor and could be considered voluntary uncommitted cost sharing. The Department needs to transfer the deficit out of the sponsored award within three months of the termination date of the award.

Unallowable and Unallocable Costs

Unallowable and unallocable costs are defined as sponsored project expenditures that are not in compliance with OMB Uniform Guidance, University of Denver policy, or the sponsor’s terms and conditions. The University of Denver cannot request reimbursement for the payment of any of these costs. Some examples include:

  • Alcohol
  • Advertising and public relations costs
  • Bad debt
  • Donations and contributions
  • Entertainment costs
  • Fines and penalties
  • Goods and services for personal use
  • Housing and personal living expenses
  • Pre-award costs unless allowed by the sponsor
  • Selling and marketing
Closeout Checklist

Use the closeout checklist as a helpful tool to confirm all activities on an award have been completed, once the award is terminated. Your Project Administrator will send you a separate closeout checklist for ORSP processing which must be completed at the end of the award.