Final Reports
Closeout Property Reports: Federal Grants and Contracts
Included on this page:
Closeout property reports are documents
written at award closeout or at
the special request of the granting agencies. These reports list all
property purchased under a grant or contract (including property under
subcontractors) regardless of ownership. UW's Equipment Inventory
Office (EIO) prepares the reports and submits them
within 60 to 90 calendar days after the date of completion
of the award.
There are two types of reports:
-
Closeout Positive Property Report: an
inventory listing
all property purchased or furnished
under the grant or contract regardless of ownership.
-
Closeout Negative Property Report: a
report indicating that UW bought no property under the grant or
contract.
Award closeout is the process of:
-
documenting and assuring the fulfillment of the terms
and conditions of the award,
-
certifying compliance with applicable
regulations, terms
and conditions, and
-
completing all award by-products, such as
final vouchers, reports, patent disclosures, and property disposition.
-
The Office
of Naval Research (ONR)
administers closing federal grants and contracts and conducts Property Control
System Analysis (PCSA).
Some agencies administer their own grants and contracts. For example:
-
Department of Interior
- National Oceanic Atmospheric Administration (NOAA)
- National Air and Space Administration (NASA) – those
outside ONR administration.
- National Institute of Health (NIH)
- Private sponsoring agencies.
The Equipment Inventory Office (EIO):
-
helps the departments comply with the Contracting Officers'
requirements.
-
reports the disposition of equipment purchased under federal grants and
contracts on closeout reports submitted within 60-90 calendar days of
the
grant/contract closing.
-
requests title to any government-titled equipment and excess materials
on behalf of the University of Washington for use on additional
research projects.
University departments
-
manage
their equipment
throughout the award and may work with EIO to complete closeout
property reports by
helping to resolve inventory adjustments, liability determinations, and
other
property
issues required to close the contract.
-
if required, prepare transfer of equipment (e.g., they return it to the
agency
or place it with another award.)
EIO Prepares and Submits Closeout Reports:
EIO
-
reconciles expenditures. (They match financial records to the property
system or OASIS).
-
works with the department to resolve inventory adjustments, liability
determinations, and other property issues
required to close the contract.
-
prepares closeout reports within 60 - 90 calendar days of the
grant/contract closing
date.
-
submits the closeout property reports (along with a list identifying
all discrepancies disclosed by a physical inventory) to the sponsoring
agency on behalf of the department.
EIO Requests Title to Government Property:
If the federal government retains title to the property at aquisition,
during closeout
EIO automatically asks the agency to give title to the equipment and
excess materials to the University of Washington for use on additional
research projects.
If they do not give the title to the University,
the agency may direct the University to:
- return the equipment to the sponsoring agency or other
designated points of origin.
(The department prepares the equipment for shipment and delivers it as
requested.)
-
dispose of or sell the
equipment. EIO credits the net proceeds of any such disposal or sale to
the contract
or pays it to the Government (as the Contracting Officer directs.)
- continue to use the equipment on additional research
within the University while the government retains title to the
equipment. (In this case, when the subsequent contract ends, EIO
works with the department to get the Contracting Officers' approval to
transfer the property for use on another UW contract.
-
Department of Defense--DD Form 1662,
"DOD Property in the Custody of
Contractors"
-
NASA
Form 1018
-
comparable forms for other agencies
The Office of Management and Budget establishes basic procedures and
requirements
for reporting the disposition of equipment at the end of a federal
award. Federal
Acquisition Regulation (FARS 45.508-1) states that
at the conclusion of a federal award the contractor is
required to
submit an inventory covering all items of Government property not
consumed during the performance of the contract or delivered back to
the Government.
Other federal agencies such as the following may impose
additional requirements:
- Department of Defense
- Department of Energy
- National Air and Space Administration (NASA)
- National Institute of Health (NIH)
-
Office of Naval Research (ONR) who administers grants and contracts for
the Air Force, Navy, Army, and select NASA Centers
- Private sponsoring agencies
Frequently
Asked Questions
- Who determines the ownership of a piece of
equipment? The Office of Sponsored Programs (OSP) and the sponsoring agency negotiate
to determine the ownership of equipment.
- How can I keep the equipment at the end of an
award?
While submitting the closeout property report, EIO (working with
University research departments) asks the
granting agency to
vest title with the University. (Title never
vests with an individual.)
- Who submits the closing and annual reports?
EIO prepares and submits all closing and
annual reports. (They may contact the department for clarification
and assistance.)
-
Federal Property Specialists:
- Chris Wall: (206) 543-4640
- Martin Crabb: (206) 616-4047
Final Reports
