Award Close-out

The grant and contract closing process begins when the budget expires and/or after Grant and Contract Accounting (GCA) receives all necessary financial information from the department. (GCA will not close a budget if you notify them that you have an extension and/or supplement in progress.) PI/staff work with GCA to insure that all expenditures are allowable. GCA reconciles and closes the budget. When budget, expenditures, cash and revenue are equal, GCA changes the budget status to 4 (closed).

Final Reports

Close Budget

Budget information provided by Grant & Contract Accounting

Prepare for an Audit

• Managing an Audit
• Interaction with External Auditors

Federal Regulations

• Cost Principles for Educational Institutions (OMB Circular A-21)
• Administrative Requirements for Higher Education Institutions (OMB Circular A-110)
• Audits of States, Local Governments, and Non-Profit Organizations (OMB Circular A-133)

Resources

• UW Internal Audit Office
• UW Training and Development Classes
• Washington State Auditors
• Washington State Ethics Policy

Record Retention

University General Records Retention Schedule

The University General Records Retention Schedule identifies and describes records created or received by an office and provides instruction on how long to keep those records. The General Records Retention Schedule is a legal document that acts as an insurance policy designed to protect both the University and your office legally and fiscally.

By routinely following the General Schedule you assure the credibility and soundness of your records maintenance procedures in the event of audit or litigation. More practically, disposing of records according to schedule promotes and increases office efficiency by saving time, space, and money spent on storage and staffing.

Supporting Documents

Research and Grant/Contract Records, UW-GS 7

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