Award Closeout Checklist Discussion May 11, 2017 (Evanston) and May 24, 2017 (Chicago) Discussion Panel Evanston Deb Cundiff, McCormick School of Engineering Elizabette Rischall, Accounting Services for Research and Sponsored Programs Hillary Sparks, McCormick School of Engineering Discussion Panel Chicago Katherine Mustea, Accounting Services for Research and Sponsored Programs Lauren Ellis, Neurological Surgery - Feinberg School of Medicine

Agenda Introduction Managing Project Closeout Effectively Department Closeout Checklist

Prepare for a Successful Award Closeout: Internal Controls – Checks and Balances Multi-level reviewers/approvers - each role has responsibilities for Checks and Balances Know what you are submitting/approving/certifying It can be charged there, but should it be? Administrator PI Dept. Dean School Post Award Accounting Services Payroll A/P Central

The Crucial Role of the Department Administrator Communicate with Faculty Enter Transactions in Financial System Department Staff Reconcile Accounts Approve Transactions Collect & Save Documentation

Managing Project Closeout Effectively (see handout) During the life of the award: Procedures should be in place to evaluate and monitor expenses to prevent audit problems at closing, such as Purchase order evaluation and approvals Consultant Payments and Sub-recipient Monitoring Monthly Reconciliation Effort Reporting completion In addition closely review: Travel Reimbursements Visa Fees Equipment Purchases Procurement Card Purchases Computer Purchases Cost Transfers Overdrafts 90 days prior to end date: Notice of Pending Award Closeout email should be sent to the PI Create a Final Spending Plan Ongoing costs: Tuition and Payroll review; determine future funding sources Work with IACUC and IRB to transfer protocols Ensure cost sharing commitments have been met Verify that all expenses are allowable, especially those posted within last three months of the award 30 days prior to award end date: Final Expense Review- timing? Is 30-day prior best time? See handout of the Allowability Matrix Notify internal service centers, core and shared facilities to stop using project Review open encumbrances and pending expenses Resolve outstanding effort-related issues After project end date: Verify that all encumbrances have cleared and all expenses have posted Confirm FINAL subcontract invoices are received Request PI certifications on Budget Statement and Program Income form Prepare Financial report (typically central office) Verify that PI has submitted final technical report to the sponsor, along with any other required reports (invention report, patent report etc.) Submit the report before the due date of the report (typically central office)

Department Closeout Checklist - Discussion