Closeout Checklist - J05

Purpose

The purpose of this procedure is to ensure compliance with OMB Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, 2 CFR 搂200.343 Closeout. According to 搂200.16, closeout means the process by which the Federal awarding agency or pass-through entity determines that all applicable administrative actions and all required work of the Federal award have been completed and takes actions described in 搂200.343 Closeout.

Scope

This procedure applies to all sponsored projects subject to OU Policy 19.045 Administering External Grants and Contracts set up as separate accounts in the OHIO Financial Management System (FMS).

Closeout Checklist

90 Days Prior to the Award End Date

  • Review the rate of spending to time left on the award
  • Budget Revision (K01)
  • No-Cost-Extension (K05)
  • Renewal
  • Cost Share Documentation Review (J01)

30-60 Days Prior to the Award End Date

  • Review Labor Distribution
  • Subawards (D11)
  • Tuition Allowance Verification
  • Final Purchases

No Later Than 90 Calendar Days AFTER the Award End Date

  • Expenditure Review (G01)
  • Effort Reporting
  • Prior Approvals
  • Fabrication
  • Other Paid Expenses
  • Financial Forms
  • IDC & Fund Balance Reconciliation
  • Revenue Verification
  • Adjustments
  • Fixed-Price Award Disbursement (J04)
  • Final Invoice
  • Refund

Questions

Questions regarding this procedure can be sent to orsp@ohio.edu. 

Forms/Templates

Closeout Checklist printable PDF

Roles and Responsibilities 

OWNER: PI/PD

CONTRIBUTOR: OSP and Grants Accounting

APPROVER: None