Closing out your award is a multi step process involving ORAF, the PI and the Department Administrator. The formal process is initiated by ORAF once your award is within approximately 60 days of ending. A checklist of action items and email notice is sent to the PI and Department Administrator. All final expenditures must be posted as activity within the project period end date. Future commitments must be removed and/or adjusted to other Funds as appropriate. Sub-recipients will need to Final Invoice NU 45 days prior to end date. Procurement cards must be cancelled and cost sharing must be expended within project period.
Closing out your award is a multi step process involving ORAF, the PI and the Department Administrator. The formal process is initiated by ORAF once your award is within approximately 60 days of ending. A checklist of action items and email notice is sent to the PI and Department Administrator.
CLOSEOUT CHECKLIST: All re-occurring items must be stopped or redirected by the end date to ensure timely closure. Typical categories are listed below:
- Salary & Labor Distribution: Stop Charging - All Salary/Effort charged to this cost center must be moved off by the award end date. Review and correct any changes as necessary. PDC forms can be found on the HR/Payroll website for use in moving/correcting salary distributions.
- Student employees – contact Student Employment to terminate/re-assign employment if necessary.
- Do you Have a Procurement Card: If YES, Research Finance will contact Accounts Payable to cancel the Procurement Card.
- Do You Have a Copy Card/Codes: If YES, YOU must contact Reprographics (617-373-2766) to terminate all copy cards and copy codes associated with this cost center.
- Animal Charges: Please stop all reoccurring animal charges against this award.
- Final Purchases/Encumbrances:Submit and approve any remaining invoices and follow-up on any that have not arrived in a timely manner. Review outstanding encumbrances on the award. Liquidate/cancel any encumbrances. Refer to the Procurement website for instruction.
- Correct Expenditure Type for equipment purchases: Review expenditure type for all equipment purchases, account codes 73001-73012. Items costing less than $1,500 must be coded as non-capital purchases. Banner finance accounting forms can be found here.
- Final Review of Expenses: Review the award terms & conditions and ensure that all expenses should be charged to this award and if not, transfer the expenses to a non-sponsored program cost center. Banner finance accounting forms can be found here.
- Cost sharing: Any committed cost sharing must be expended by the time the project ends.
- Sub-awards: Please remind each of your subrecipients to submit a final invoice (inserting FINAL at the top), final reports, and final invention statement within 45 days after subaward end date. Please notify Dan Gilbert via email D.Gilbert@neu.edu that these requirements have been met.
Please Be Reminded of Any Final Reporting Requirements Of Your Sponsor And Their Respective Due Dates (Typically Due Within 90 Days of Award End Date):
PATENT / INVENTION STATEMENT TECHNICAL PROGRAM
Northeastern University is required by most federal sponsors and many private sponsors to submit final financial closeout reports within 90-days after the award end date (some agencies may require early submission.) Please assist the Office of Research Administration and Finance to fulfill Northeastern University’s obligation to our sponsor.