Office of Sponsored Programs - 700.01 - Overview of Project Closeout Responsibilities

Title

Office of Sponsored Programs - 700.01 - Overview of Project Closeout Responsibilities

Purpose

This operating standard presents various types of final reports requested at the end of a project period to close out a sponsored project, with emphasis on collaboration amongst central offices, Office of Sponsored Programs (OSP), and the Principal Investigator (PI) in providing and reconciling all pertinent information.

Policy Statement

Abiding by the terms and conditions of the award agreement, OSP, the PI, the Office of Technology Commercialization (OTC), and other central offices must complete and submit various final reports to the sponsor before an award can be closed out. These reports include, but may not be limited to:

In meeting 2 CFR §200.327-329 requirements, the PI must submit the final performance report after completion of the project following the terms and conditions of the award. The PI is ultimately responsible for overseeing the proper closeout of a sponsored project. While the central offices prepare and submit final administrative reports, including financial and property reports, they do so on the basis of documentation created by the department. PIs must assure that such documentation is adequate and readily available. PIs are also responsible for ensuring that any necessary final financial adjustments and documentation (e.g., final invoices from vendors or subrecipients) are received and recorded in a timely manner.

The University is required to submit a final report of expenditures for the project to the sponsoring agency following the terms and conditions of the award. OSP relies on the PI and department to complete the Closeout checklist in RAMSeS to identify any expenses that occurred before the project end date which are not reflected in the University’s financial system, ConnectCarolina.

As part of final reporting, OSP, along with OTC, may be required to prepare documentation for the PI to sign, which reports whether or not patents, inventions, or technology transfers are included as a result of the project. In addition, OSP provides the funding agency information regarding the title to any real property and equipment acquired during the project. When necessary, OSP will also certify and submit any contractor release/assignment forms at the conclusion of a project.

In accordance with the record retention requirements of 2 CFR §200.333, financial records, supporting documents, and any other records pertinent to the award must be kept for three (3) years from the submission date of the report, whether it is an interim or a final report. Please note that sponsor terms and conditions may require a longer period of retention.

Related Requirements

• Research Administration Glossary at Carolina
• 2 CFR §200.327 - Financial Reporting
• 2 CFR §200.328 - Monitoring and Reporting Program Performance
• 2 CFR §200.329 - Reporting on Real Property
• 2 CFR §200.333 - Retention Requirements for Records

Unit Policies, Standards, & Procedures

• OSP Operating Standard 500.04 - Pre-Audit Approval of Transactions
• OSP Operating Standard 700.02 - Project Closeout

Contact Information

For questions regarding this operating standard and its related procedure, please contact SponsoredPrograms@unc.edu.

For questions regarding Pre-Award management or Post-Award administration, please contact the assigned Sponsored Projects Specialist (SPS).

For invoicing, reporting and other financial matters, please contact the assigned Sponsored Projects Accountant. OSP Staff assignments are found in RAMSeS or on the OSP website.

History

The operating standards in the Office of Sponsored Programs Operating Standards & Procedures Manual supersede any OSP operating standards, procedures and appendices previously included in the University Business Manual, a publication of UNC-Chapel Hill’s Division of Finance.