Award Closeout

Closeout is the final reconciliation and reporting of the expenses and activities of the project. This is a combined effort between the PI, local departmental/unit administration and University Research Administration. Throughout the life of the award, award management steps should be taken to ensure timely, accurate closeouts. This includes the allocation of expenditures, the monthly monitoring and reconciliation of the account,  and reviewing the account activities and plans with the PI, making adjustments as necessary. 

URA is responsible for submitting all interim and final financial reports required under grant and contract agreements. 

Preparing for Closeout

The closeout process should being 120 days prior to the award end date. The timeline and checklist below are provided to assist the Unit in preparing for award closeout.

Closing Memo

After the award end date, administrators should ensure that all allowable charges have been posted to each SL account. Administrators should complete any final cost transfers to ensure all allowable and allocable expenses for the award are moved to the correct account.

After all expenses have posted, administrators will e-mail a Closing Memo and required backup documentation (see below) for each SL account for any trailing transactions to closeout@lists.uchicago.edu.

The URA Post-Award Research Administrator will review the Closing Memo and contact the account administrator with any questions.

Once the Closing Memo is finalized, URA will prepare the final financial report and submit the report to the agency and/or submit a final invoice. URA will close the account in FAS once all final payments have been posted.

URA will follow up with the unit to ensure all other final reporting requirements have been met and will close the award in AURA as well.