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Closeout

Responsible Department
Grants & Contracts Administration
Effective Date
11/08/2019
  1. .

    Policy Purpose

    The purpose of this policy is to establish the requirements for Principal Investigators (the “PI”) and the Grants and Contracts Administration to closeout sponsored agreements at the University of North Georgia (the “University”).

  2. .

    Definitions

    Award Closeout Reports: Most sponsors require final reports no later than 90-calendar days after the expiration date of the award. Examples of these report are:

    1. Final Technical Report: The project’s PI is responsible for submission of the final technical report. Technical reports must include:

      1. Identifying grant number
      2. PI’s name and contact information
      3. Dates of the entire grant period
      4. Statement of progress
      5. List of results
      6. List of publications

    2. Final Fiscal Report: The final fiscal report is prepared by the Grants and Contracts Administration after the PI and staff have reviewed and verified all expenditures.
  3. .

    Policy Statement

    1. After an awarding agency has determined that all applicable administrative actions and required work of the award have been completed, the PI must also comply with the federal regulations presented in the OMB Uniform Administrative Requirements and UNG Procedures for Grants and Contracts Closeout.

    2. Grants and Contracts Closeout includes the following requirements:

      1. All award closeout reports as required by the awarding agency must be submitted no later than 90 calendar days after the end date of the performance period by the PI through the Grants and Contracts Administration;

      2. All obligations incurred under the award not later than 90 calendar days after the end date of the period of performance must be liquidated as specified in the terms and conditions of the award;

      3. Payment for allowable reimbursable costs under the award must be received from the awarding agency or pass-through entity;

      4. Any unobligated cash that the awarding agency or pass-through entity paid in advance or paid and that are not authorized to be retained must be refunded to the awarding agency;

      5. Settlement between all parties must be made on any adjustments to the cost share/match to be consistent with the terms and conditions of the award;

      6. Real estate or personal property acquired with awarding funds or received from the government must be accounted for by the PI in accordance with 2 CFR 200.310-316; and

      7. All closeout actions must be completed no later than 1 year after receipt and acceptance of all required Award Closeout Reports.
  4. .

    Support Information

    1. The Closeout Policy implements the Federal requirements set forth by the Office of Management and Budget Uniform Administrative Guidance 2 CFR 200.343.

    2. Improper or inadequate closeout of sponsoring grants and contracts can result in the following restrictions imposed on the University by the Federal Government: Payback of award funds to sponsor; Withholding of future funding; Special monitoring by sponsor; Audit findings; Requirement for corrective action plan; Designation as a “high risk” institution; Loss of Expanded Authorities; Payment of punitive damages.
  5. .

    Procedures

    Any related operating procedures must comply with and should reference this policy.

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