Financials

Use the GrantTracker Departmental View for monitoring expiration & final action dates of sponsored award budgets.

All award expenses must be posted in the UW financial system by the Final Action Date (FAD).  Expenses posted after the FAD may not be eligible for reimbursement from the sponsor.

If your FAD is approaching and:

• you will have late transactions, use GrantTracker to contact GCA.
• the work is not complete, consider requesting a budget extension.

If upon completion the award has a deficit, it must be resolved per the UW Deficit Resolution policy.

Review Final Financial Reporting requirements.

End of Award / End of Budget Review Checklist

This checklist provides recommendations for preparing for the end of an award or the end of a budget period (closeout) 30-60 days before the Final Action Date (FAD) of a UW sponsored award budget number.

Departments are responsible for monitoring expiring awards. GCA provides the GrantTracker Departmental View for monitoring expiration & Final Action Dates (FAD) of sponsored award budgets.

Review guidance for closeout: sponsor reporting.

Review Items

At least 30-60 days before the FAD of the UW budget number:

1. Review award terms & conditions for final documentation requirements & deadlines, ensure they will be met.
2. If necessary, fill out a Budget Extension Request. If Sponsor approval is required, submit 45 days before the current award/budget period end date.
3. Review UW Policy GIM 39: Closeout of Sponsored Programs.
4. Review award expenditures & ensure allowability and allocability. If any expenditure does not belong, it must be removed before the FAD.
5. Make sure:
   1. All allowable project costs have posted to UW Budget number including any subaward invoices. Expenditures that post after the final financial report/invoice are the department’s responsibility.
   2. Open balances & encumbrances have cleared the UW budget.
6. Provide closeout@uw.edu a copy of the final progress report and/or proof of submission.

Other Review Items as Applicable

If applicable, make sure:

• Cost Share commitments are met and posted in UW systems.
• To complete Interim Cost Share reports when there is a gap between sponsor final deadlines and Faculty Effort Certification (FEC) cycles.
• Program Income is spent in full.
• Report Intellectual Property to UW CoMotion.
• Equipment Inventory- review and confirm:
  • Equipment closeout reporting guidance,
  • Final fabrication Journal Voucher (JV) requests are submitted no later than 30-60 days after the Budget Period end date.
• To follow Subaward Closeout Recommendations:
  • 30-60 days before subaward period end: remind subrecipients of final deadlines (progress report, invoices, etc. per the terms of the agreement).
  • Before the FAD of prime award budget: confirm final invoice has been received, approved, marked final and payment has posted to UW budget.
  • Closeout Blanket Purchase Orders (BPO) in Ariba: when there are unexpended funds and it is still in an “open” status.

Other End of Budget / End of Award Resources

• Financials
• Reporting
• Equipment
• Subawards
• Dissemination of Results
• Data Sharing
• Records Retention
• GIM 39 – Closeout of Sponsored Programs

Early Termination and Relinquishment

Early termination shortens the life of the project period prior to completion. Relinquishments and award transfers mean returning funds back to the sponsor and giving up the UW’s right to the funding. Review guidance for early terminations and relinquishments.