OSP uses a Close Out (CO) internally to track that the closeout of a sponsored program occurs in accordance with federal regulations, specific sponsor policies and the terms of the award within the timeframe required by the sponsor.
When you create a CO, you must specify the type by selecting a checkbox under Close Out Action.
Close Out Field Definitions
A Close Out has specific fields in addition to the common admin action fields.
|Award End Date
|The ending date of the award.
|Closeout Deadline Date
|The deadline as defined by the sponsor.
|Closeout Delinquent Date
|This is a read-only field, and is equal to the Closeout Deadline Date plus 30 days. It will automatically display.
|Close Out Actions
|There are four types
Review GIM 39 Closeout of Sponsored Programs for details on the closeout process.