Closeout

Financial

When a sponsored project and its funding agreement end, department financial personnel work with Sponsored Programs Administration - Financial Division to ensure all expenses have been invoiced and all payments have been received and appropriately disbursed.

Compliance/Regulatory

The PI may need to provide notice of the project completion to any compliance offices which have provided approval for the project (e.g., Export Control, Information Security Office).

Contractual

Most sponsored project agreements expire on the stated end date.  However, a project/agreement may be terminated early by either the industry sponsor or the university.  In the case of early termination, either OIE or the sponsor may issue an amendment or letter of termination; your OIE Contracts Specialistprocesses such documents, and OIE’s Grants and Contracts Assistant (G&CA) modifies the project end date in the university’s PeopleSoft financial tracking system.

To close a project in PeopleSoft , Sponsored Programs Administration - Financial Division needs confirmation that the project has indeed ended and all closing details have been taken care of. When provided with the following documents, SPA-FD can conform the project end date in PeopleSoft to the actual end date:

  • Sponsor: Termination letter (only required in case of early termination)
  • Department: Request to close the file or acknowledgement of sponsor’s termination notice (only required in case of early termination)
  • SPA: Sponsored Programs Administration-Financial Division has been provided a department D account to which to transfer residual (if not to be returned to sponsor)
  • SPA-FD: SPA-FD has been provided department certification that all financial obligations and expenses are complete and study is closed
  • SPA-FD: Notice that SPA-FD processes are complete and chartfield has been inactivated

 

Questions?

Have questions about your project and/or chartfield closeout?  Contact the SPA-Financial Division by email or by phone at 502- 852-2980.

OIE staff are happy to answer any questions you may have concerning any process, form, document or policy. You may contact us by email or by phone at 502-852-7253.