Closeout Checklist - J05 | Ohio University

Purpose

The purpose of this procedure is to ensure compliance with OMB Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, 2 CFR §200.343 Closeout. According to §200.16, closeout means the process by which the Federal awarding agency or pass-through entity determines that all applicable administrative actions and all required work of the Federal award have been completed and takes actions described in §200.343 Closeout.

Scope

This procedure applies to all sponsored projects subject to OU Policy 19.045 Administering External Grants and Contracts set up as separate accounts in the OHIO Financial Management System (FMS).

CLOSEOUT CHECKLIST

90 DAYS PRIOR TO THE AWARD END DATE

___

Review the rate of spending to time left on the award

___

Budget Revision ( K01 )

___

No-Cost-Extension ( K05 )

___

Renewal

___

Cost Share Documentation Review (J01)

30-60 DAYS PRIOR TO THE AWARD END DATE

___

Review Labor Distribution

___

Subawards ( D11 )

___

Tuition Allowance Verification

___

Final Purchases

NO LATER THAN 90 CALENDAR DAYS AFTER THE AWARD END DATE

___

Expenditure Review (G01)

___

Effort Reporting

___

Prior Approvals

___

Fabrication

___

Other Paid Expenses

___

Financial Forms

___

IDC & Fund Balance Reconciliation

___

Revenue Verification

___

Adjustments

___

Fixed-Price Award Disbursement (J04)

___

Final Invoice

___

Refund

Questions

Questions regarding this procedure can be sent to orsp@ohio.edu .

Forms/Templates

Closeout Checklist printable PDF

Roles and Responsibilities

OWNER: PI/PD

CONTRIBUTOR: ORSP and Grants Accounting

APPROVER: None

Info for:

Log In

Locations

Connect