Closeout and Beyond

Division of Research Certificate in Research Administration: Beginner Track

Welcome

Jane Edwards
• Compliance Administrator, ORA

• jedward2@umd.edu, x56280

Kevin Lepley
• Director of Administrative Service, IPST

• klepley@umd.edu; x54876

Laura Salers
• Senior Compliance Administrator, SPAC

• lsalers@umd.edu, x52604
Our Approach

Three Parts to Closeout:

• Before
• 30-60 Days Before End of Award
• During
• 1-60 Days after Period of Performance
• After
• Up to 90 Days After Period of Performance
Learning Objectives

• Steps Required to Successfully Close

Out an Award and Subaward
• Campus Resources and Offices
Involved in Closeout Process
• Record Retention
• Audit Preparedness and Best Practices
Before Closeout
Reconcile Accounts

• Review Accounts with Parent/Child relationship

• Compare Actual Expenditures to Approved Budget
and Document any variances with PI guidance
• Make Necessary Transfers
• Review and Close any open Encumbrances
• Reconcile Pcard and Tcard Logs
• Research Subject Payments
• Ensure that all Costs incurred are within PoP and
consistent with terms and conditions of the award
Documentation

• Receipts, Invoices, Supporting Documents for

Purchases, Contractor Payments

• Award Letters to Subawardees, Invoices and any

other correspondence

• Any Communications with the Granting Agency

and/or Central offices (ORA, SPAC)

• PI Interim Technical/Progress Reports

Conversation with PI
• Is the actual effort consistent with
the committed effort? If not why?
• Are expenditures consistent with
approved budget? If not why?
Any sponsor specific or University
unallowables?
• Will the narratives be ready?
What is the deadline?
Debriefing with PI
• No Cost Extension?
• If yes, know the deadline.
• If no, what will happen to any remaining funding? Is it a
fixed price contract?
• New Grant Submission
• If no, will there be a continuation of the project via a
different grant submission.
• Employees Currently Paid on the Grant?
• Additional Costs?
• Remind of PoP and Report Deadlines
Conversation with PI
• Will travel be required to required to
present project outcomes?
• Are there any outstanding
reimbursements?
• Are there any interim reports or
expense receipts in your file?
• Campus resources and offices involved
in closeout process.
 ASK STUDENTS:
• Which costs need to be incurred
before the end of the Period of
Performance?
• True or False: All costs must be
charged to the agreement before the
period of performance ends.
• What are the consequences of late
report submission?
Financial Closeout Preparation

Check List
 Receive final invoice from subawardees
specifically marked “final.”
 Close open encumbrances
 Contact vendors if in need of invoices.
 Project payroll expenses and setup PHR payroll
distribution to have employees switched to a
different account
 Financial Closeout Preparation

Review approved effort reports if available, and

ensure revised reports are completed when
appropriate. Remember, some employees may
terminate immediately after close of project, so be
sure to obtain approvals.
Collect any outstanding receipts for
reimbursements.
Reconcile Pcard and Tcard logs.
Collect any unused subject payments and finalize
the process.
Retention and Audit Preparedness

• File Storage and Shredding

• Audit (potential)
GROUP ACTIVITY
Budget Categories
Senior Personnel Participant Support

Other Personnel Publication Costs

Equipment Materials & Supplies

Travel Other Direct Costs

• PI’s salary • Coffee & donuts for
• GA’s Salary meeting of
• Centrifuge (over participants
$5,000) • Printing costs of
• Computer (over publications
$5,000) • Poster fees
• Airfare for PI or GA • Chemicals
• Airfare for conference • Live mice
participants • Computer under
• Conference $5,000
Registration for PI • Offsite data storage
fees
Budget Categories and Examples
Senior Personnel- PI’s salary

Other Personnel –GA’s Salary

Equipment– centrifuge (if over $5,000) -computer if it’s over $5,000

Travel - Airfare for PI or GA, not airfare that could be participant support;
Conference Reg. Fees for PI

Participant Support - coffee & donuts for meeting of participants; Conference

Reg. Fees;

Publication Costs - printing costs of publications, poster fees

Materials & Supplies- chemicals; live mice; computer under $5,000

Other Direct Costs – offsite data storage fees; computer under $5,000
During Closeout
Communicate with PI
 Keep PI Informed
 Discuss questionable
expenditures and ask for
written detailed explanations
for file 
 Encourage timeliness of
Project Reports  
Prepare Cost Transfers as Appropriate

 Throughout the Life of the Award

 Include details to support debit(s) and credit(s)
 Ensure compliance with University policies
and procedures

 High Risk transfers

 At end of award
 No benefit to the project
 Unreasonable expenditures
 Not consistent with budget
Financial Closeout
• Close Encumbrances in KFS
• Final Subaward Payment Collected and
Marked Final
• Reconcile Pcard and Tcard logs
• Finalize Subject Payment Receipts
Collection UMD Property
 Computer
 Supplies
 Office Keys
 Deactivate ID card if Appropriate
Prepare Files for Storage
 Review UMD Policy on Record
Retention
 Review special sponsor retention
periods
 Shredding Date
Potential Audits
 Types of Audits
 Sponsor Specific (Program)
 Office of Inspector General (OIG)
 Site Visit or Desk review
 Investigation
 Closeout Audit

 Someone Else Reading Files

 Could happen at end or 3-5 years after
Final Reports
• Final Financial Report

• Final Property Report

• Final Technical/Progress Report

• Final Patent/Invention Report

Final Financial Report
• Federal Financial Report
• Standard Form (SF) 425*
• Contract Release and Contract
Assignment
• Final Zero Invoice
• Standard Form (SF) 1034/1035*
*Completed by SPAC
Final Financial Report
• LOC- Letter of Credit

• Auto Payment: Payments

• Cost Reimbursable

• Due 60 Days After End of Award

Final Technical/Progress Report
• Agency Specific Guidelines
http://ora.umd.edu/ftr
• Review Award Reporting Requirements
• PI submissions
• Research Performance Progress
Report (RPPR)
Final Invention/Patent Report
• “Government Use Rights”

• Invention Disclosure to OTC;

http://www.otc.umd.edu/

• 60 Days
Final Property Report
 Contractor Acquired Property (CAP)
 Government Furnished Equipment
(GFE)

 Equipment
 Reporting Requirements
Final Property Report
• Federal Forms may be required
• Review terms and conditions
• Government owned vs University owned
• Property Closeout
Subaward Closeout
• Final Reports
• PI Statement of Completion
• Subrecipient Release of
Claims
 ASK STUDENTS
• True or False - Government
Property never stays with the
University.
After Closeout
Archiving Account Records
• Verify Final Closing transactions
posted correctly
• Review Records for
Completeness
• Assemble Records
• Documents Required for Audit
Record Retention
• Retained for minimum of 5 years* or per
terms and conditions of the agreement
• Must Be Reconciled and Final Payment
Received
• 2 CFR 200.333 (Uniform Guidance)
• Destroy or Shred award documentation
*see federal or state guidance
Audit
• Contact Sponsored Accounting and
Compliance (SPAC)
• Responsible for Coordinating audits/reviews
• Financial Compliance Team
• Review File for Audit
• Be Prepared to Provide Documentation
• Inform SPAC of any known anomalies
GROUP ACTIVITY
JEOPARDY
FINAL REPORTS AUDITS

$100 $100
$200 $200
$300 $300
$400 $400
$500 $500
JEOPARDY
Final Reports, $100

This is the responsible party

for completing the Technical
Report.
JEOPARDY
Final Reports, $200

These reports are prepared

by SPAC.
JEOPARDY
Final Reports, $300

This form is sent to OTC at

the conclusion of a project.
JEOPARDY
Final Reports, $400

This final report has various

formats for submission,
depending on the sponsor.
JEOPARDY
Final Reports, $500

This person is responsible for

inspecting Government Equipment
and notifying Central Office
Inventory Control.
JEOPARDY
Audits, $100

This office is the point of contact

for all audit requests/inquiries &
site visits.
JEOPARDY
Audits, $200

5 years is the standard period for

this sponsored project
requirement.
JEOPARDY
Audits, $300

This task occurs throughout the

entire award.
JEOPARDY
Audits, $400

Unless otherwise specified by the

award terms, this is done to all
project documentation five years
after the project ends.
JEOPARDY
Audits, $500

Uniform Guidance Section

200.333 provides regulations
related to this topic.