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


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


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 Research (OSR), and the Principal Investigator (PI) in providing and reconciling all pertinent information.

Policy Statement

Abiding by the terms and conditions of the award agreement, OSR, 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:

Type of Deliverable and Responsible Party Table
Type of Deliverable for Final Reporting Responsible Party
Project Performance Report PI
Final Report of Expenditures PI and OSR
Patents, Inventions, Technology Transfer Issues PI, OSR, and OTC
Real Property and Equipment ownership OSR and Asset Management
Contract Release/Contractor Assignment OSR

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. OSR 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, OSR, 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, OSR provides the funding agency information regarding title to any real property and equipment acquired during the project. When necessary, OSR 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

Unit Policies, Standards, & Procedures

Contact Information

For questions regarding this operating standard and its related procedure, please contact

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. OSR Staff assignments are found in RAMSeS or on the OSR website.


Document History
Date Revision
03/20/2020 Revised to reflect accurate process for PI completion of performance/techinical reports.
05/15/2018 Revised to coincide with the release of the new OSR Website.

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

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Article ID: 132334
Thu 4/8/21 9:29 PM
Fri 3/18/22 5:00 PM
Effective Date
If the date on which this document became/becomes enforceable differs from the Origination or Last Revision, this attribute reflects the date on which it is/was enforcable.
02/18/2021 8:46 AM
Issuing Officer
Name of the document Issuing Officer. This is the individual whose organizational authority covers the policy scope and who is primarily responsible for the policy.
Issuing Officer Title
Title of the person who is primarily responsible for issuing this policy.
Vice Chancellor
Last Review
Date on which the most recent document review was completed.
02/18/2021 8:46 AM
Last Revised
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03/23/2020 1:01 PM
Date on which the original version of this document was first made official.
03/01/2009 11:00 PM
Responsible Unit
School, Department, or other organizational unit issuing this document.