Award Closeout ERA PROCESS Summary of Closeout Schedule

Award Closeout ERA PROCESS

Summary of Closeout Schedule (awards with reports due 90 days after end date) - 60 – 30 Departmental Pre-Expiration Review Slot AWARD END DATE + 30 days + 60 + ~75 Departmental Post-Award Review Slot Initial Review & I-Journals Continue review & I-Journals OSR Close Slot 14 days Finalize review & I-Journals Set up Early Acct on Renewal On-line Exp Statement Request No-Cost Extension Printed Exp Statement Post Final Expenses Advance Close Notif. + 90 Close Notif. All project time extension requests should be submitted Email From OSR Acct On-line Exp Statements Printed Exp Statements OSR/Unit Interaction 60 day After Notif. 75 day After Notices On-Time Final Reports Last opportunity to check for errors (on-line expenditure statement date + 2 working days) Last day for changes or to provide evidence of an agency-approved time extension

Award Closeout START EARLY! 1. MANAGE ACCOUNTS WELL THROUGH LIFE OF PROJECT • • • Monthly Review Quarterly Review w/ PI Use Exception Report to clear off unallowable expenses (run this minimally quarterly)

Award Closeout 2. CLOSELY REVIEW BALANCE & COMMITMENTS • • • 3 – 6 months prior to end date Determine if no cost extension is needed Establish new commitments w/ PI Avoid transferring cost – only if needed Do not let award go into overdraft

Award Closeout Process 3. Reports/Review for Closeout Use the “Closeout Checklist” (http: //ora. stanford. edu/ora/osr/close_out/closeout_forms. asp) Copy of Original Final Budget Run Rpt 179 – print tab 9 (FSR Summary) Run Rpt 279 – download data into Excel Analyze data/Identify issues PI Effort, Clear Non-Salary Commits, Unallowables, Process transactions (e. g. , LDA, i. Journals, etc. ) Re-run Rpt 179 Notify OSR award ready to close