The 90 days PRIOR to the end date are your days. The days AFTER the end date belong to
the CGA liaison to complete the final fiscal reports and billing.
The final report and billing are often due within a specified timeframe which varies by
the grantor. CGA normally completes the fiscal report, final billing and any other
required fiscal report. Most federal funded grants allow 90 days to complete the final
reports. Some state funded grants allow only 15 days. The "Closeout" should be adjusted
according to the time allowed by the particular grantor. More emphasis on the time prior
to the end date is needed when there is less time for final reporting allowed after the
end date.
The 90 days prior to the end date are just as important as the days after the end date.
In the 90 prior to the end date a complete review of the following areas should be taken.
Personnel: It is as important to accurate reporting as it is to Payroll, Personnel and
CGA that personnel be moved in a timely fashion. Last minute submission of "P" documents
necessitates that a journal entry be used to correct erroneous data and time of the
personnel involved in reviewing and approving the correction. The PBP document should be
submitted to Payroll 30 to 45 days prior to termination in order to ensure that a proper
transfer to "A", "E" or other grant funds.
Outstanding Commitments: Grants cannot be closed if there are any open purchase orders
or travel authorizations on the system. A review of any such documents should be made and
Purchasing and/or Travel should be contacted to clear any purchase order or travel
authorization that will not be used or are remaining after a partial delivery/payment.
Service Charges (IITs): Any accounts that you have in which telephone, computer
services, printing or other university services are charged to the grant should also be
canceled (or transferred to other accounts)when the grant ends.
Direct/Indirect Cost Budgets: In some grants any remaining indirect cost budget can
be rebudgeted to other direct budget categories. If there have been changes in the
indirect cost rate, equipment and stipends budget there may be available indirect cost
budget. You should review this with the CGA liaison.
Cash Advances / Petty Cash: Insure that an accounting is completed. Return any
unspent funds and turn in receipts.
Credit Cards: Send a memo to Purchasing to change the default account.
Have You Over Expended Your Grant:
Business & Finance Policy 3.19
