University of Vermont

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Sponsored Project Administration - SPA

217 Waterman Building . 85 South Prospect Street . Burlington, Vermont 05405 . (802) 656-3360


Close Out Award

SPA is dedicated to enhancing UVM's mission to create, interpret, and share knowledge by providing accurate, timely and prudent post award administrative services to the UVM community and sponsors in a supportive and professional manner, while promoting a respectful and continuous learning environment.

Award Close Out Business Process

SPA administrator will notify departments of grants ending within ninety (90) days on a monthly basis. Department administrators will meet with Principal Investigators to discuss close out process, cost share activities and to assist with no cost extension if needed.

Close Out Goals

Through proactive award management and the use of advance accounts,

  • Virtually eliminate the use of departmental suspense for actual salary/benefits expenses
  • Significantly reduce retroactive salary distribution changes
  • Ensure that al grants are ready to be closed and reported on by 30 days after the grant end date
  • Reduce compliance risks related to cost transfers and late reports

Close Out Timeline - 30 days before grant end date

  • Run Close Out Reports
  • Review expenses to ensure they are allocable
  • Review salary expenses for allowability, allocability, reasonableness and consistency
  • Use query "UV_PAY_ERN_DIST" (HR module)
  • Notify internal billers of any chartstring changes
  • Change default chartstrings for relevant PurCards and expense reports
  • Resolve budget checking errors
  • Use either the Close Out Report or query "UV_GM_KK_ERRORS_ALL" (financial module)
  • Contact Procurement Services to close all operating encumbrances
  • Ensure that cost sharing commitments will be met (including third party cost share)

Close Out Timeline - 20 days after grant ends

  • Run Close Out Report and resolve any remaining issues

Close Out Timeline - 30 days after grant ends

  • Confirm with SPA administrator that grant is ready to close and final report is ready to be completed

Liquidation Expiration Date

  • In the interest of greater accountability, Federal sponsors have started to more closely monitor cash requests on sponsored projects and are giving additional scrutiny to final letter of credit draws. 
  • Read more

Find out more about our Grant Life Cycle

Last modified April 21 2014 04:38 PM

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