Close Out
Closing out the grant will be a cinch, provided you have maintained all documentation throughout the life of the grant and have spent all the money. Filing the last annual report, drawing down the remaining funds, completing the last annual audit, and receiving the final correspondence from your programs officer are several steps involved with closing out your grant.
Every grant has a beginning and ending date as stipulated by the funding agency. The Grants and Foundation Relations department will contact you 90 to 60 days prior to the close of your reward to assist you.
If you feel that it is not feasible to complete the project by the end of the designated period and you have funds remaining on your account, in most cases you may request a no-cost extension from the funding agency. If this is done in a timely fashion, many agencies will allow you to expend funds beyond the final date of your original grant. Please contact Grants and Foundation Relations Office prior to requesting a no-cost extension. If you spend funds after the closing date of the grant without receiving permission in advance, the funding agency is likely to refuse reimbursement to the university.
It is helpful to use a 60-day target date to prepare for closeout. You need to anticipate final expenditures, particularly as they relate to payroll, benefits and purchasing. The Grant and Foundation Relations staff will assist you as needed.