1. SPONSORED PROJECTS CLOSEOUT
Pat Dodson, Office of Contracts & Grants
James Lei, Sponsored Project Accounting

2. AWARD CLOSEOUT - Overview
Mandated by the sponsor
UG (2 CFR )
More applicable to grants
FAR (4.704)
More applicable to contracts
However, each sponsor can have specific requirements
Can be simple or complex
Common denominator = multiple moving parts

3. AWARD CLOSEOUT - Overview
Definition:
A process – to document & assure fulfillment of award T&Cs
Determines all required work and administrative tasks are completed
All disputes are settled
All allowable expenditures are accounted for
Property purchased with federal $s accounted for
Patents & royalties accounted for
Final payments have been made
CU releases sponsor from further payments, when applicable
Submission/completion needs to be timely & accurate

4. AWARD CLOSEOUT - Overview
Lots of moving parts
Two major categories, based on function & focus
Financial
Contractual
Both categories must be completed
Only then is the award considered closed

5. ONE COIN – TWO SIDES Financial Contractual Payments Invoicing
Financial draw
Cost Share
Close SpeedTypes
Contractual
Final technical report
Inventions/patents
Property
Release of claim
Assignment of refunds
Subs

6. AWARD CLOSEOUT - Contractual
For Contractual = InfoEd is OCG’s tool
Closeout actually starts when we receive award
Review all new awards for obligations
Record deliverable and closeout requirements
Deliverables screen in InfoEd
List what it is
List due date
Can track fulfillment
Contract docs may contain required forms
From July’15-Dec’16 used Closeout Checklist
If already uploaded, will be retained

8. AWARD CLOSEOUT - Contractual
First step toward closeout = Ending Award notices
Temporarily suspended with PS 9.2 implementation
Will be resuming this initiative
Notices sent 1x/month
List to PIs will reference by AWARD
List to Dept Admin will reference by SPEEDTYPE for the closing awards
Both reports = comprehensive list of all awards scheduled to end within 90 days
Will assist both financial and contractual
Does PI need to request extension?
If actually ending, start financial side EARLY

9. AWARD CLOSEOUT - Contractual
OCG’s process driven by obligation deadlines
Not necessarily just the end date
Also run deliverables report
Review the list for priority closeouts
Then start working through each award
Some sponsors reach out to us

10. AWARD CLOSEOUT - Contractual
Grants pretty straightforward
Typically, only few contractual obligations
Final technical reports = standard
Sometimes property or patents, depending on agency
If required, can be all-in-one form or separate reports

11. AWARD CLOSEOUT - Contractual
Contracts get complicated
Not a “one size fits all”
Can vary along spectrum
Depends on the agency or sponsor
DoD, DoE, NASA
Non-university federal flowthroughs very stringent
SwRI
JPL
Ball Aerospace & Technologies
National Labs
Sometimes1800 Grant St for signature & CU Seal

12. RELEASE PROCESS Yes Is Release required? No END
Validate interim deliverables done
Determine type of Release
Yes
Is Release required?
Validate interim deliverables done
Upload final report into infoED No
END

13. RELEASE PROCESS OR END All-in-1 Release
Validate invoice, patent, property
Final Patent Report (w/TTO) & Final Property Report
Complete Close Out Certification process
Check box in infoED that all non-financials are complete OR
END

14. RELEASE PROCESS ? Release & Assign Validate interim deliverables done
Validate against expenses & payments
Release & Assign
Are reports needed? ?

15. RELEASE PROCESS ? END Yes No Are reports needed?
Final Patent Report
Confirm to Sponsor License Properly Filed
Property Report
Indirect Cost Report
Are reports needed? ?
Sign Release & Assignment
END No
Notified from Sponsor Deobligation needed
Deobligation
(Opt) Sponsor confirms Closure

16. AWARD CLOSEOUT - Contractual
As with financial side, may need assistance from others
PI = technical reports, patents/inventions
DRA = Dept Closeout Property Report
SPA = if ST not yet inactivated
invoicing completed (get copy of final)
payments received and posted
Grant Accountant = financial review complete
Subs/Contracts = Sub completed closeout form

18. Examples

19. FINANCIAL CLOSEOUT

20. EXTERNAL VS. INTERNAL REQUIREMENTS
External – 2 CFR 200
“All applicable administrative actions and all required work of the Federal award have been completed by the non-Federal entity.”
Internal – University of Colorado Boulder Closeout Procedures

21. EXTERNAL REQUIREMENT
All financial, performance, and other reports must be submitted as required no later than 90 days after the end date.
Must liquidate all obligations incurred no later than 90 days after the end date.
Awarding agency/pass-through entity must make prompt payments for allowable costs.

22. EXTERNAL REQUIREMENT
Non-Federal entity must promptly refund any unobligated cash.
The non-Federal entity must account for any real and personal property.
The Federal agency/pass through should complete all closeout actions no later than one year after receipt and acceptance of all final reports.

23. POST CLOSEOUT Recover funds on the basis of a later audit or review.
Return any funds as a result of collections or other transactions.
Audit requirements.
Property management and disposition.
Records retention.

24. INTERNAL REQUIREMENTS
Grant closure in PeopleSoft.
Transactions clean up – See Cost Principles Policy Statement, who has the primary responsibility for the project?
Encumbrances,
P-Card
Cost Transfers
PETS
Review Expenditures
Review Budgets
Cost Share
F&A
Effort Reporting

25. INTERNAL REQUIREMENT Final Invoice and FFR
Financial Statements clean up:
Residual/Overdraft
Receivables
Revenue
Project Resource
Assets and Liabilities

26. INTERNAL REQUIREMENTS
Close out ST in PeopleSoft
Inactivate ST
Change project status
Enter retire date
Administrative
Clean up files/Record retention
Notification

27. INTERNAL REQUIREMENTS
Closeout Contract in PeopleSoft:
Closeout bill plan
Closeout revenue plan
Change award status
Closeout the contract

28. CURRENT CLOSEOUT STATUS
Projects closed since 08/2017
1,700
Projects remained to be closed
Ended prior to 01/01/2017
890
Ended between 01/01/2017 and 02/28/2018
1,000

29. MAJOR ISSUES-INTERNAL
Residual balance
Ready to be closed
Deficit
In-Review with the departments
Unallowable
Others

30. MAJOR ISSUES-EXTERNAL
AR/Billing issues
Missing payments
System issues
NIH carry forward