Grant Closeout
Overview
When the grant has come to an end, there are several steps to complete for the grant to be terminated in Banner. The grant should be terminated in Banner within 90 days of the end date.
Close-out Process
RSP will verify that transactions posted after the end date represent expenses that were incurred on or before the end date. If the expense is from a purchase, it is ok that A/P processes payment for that invoice after the end date. The key driver is ‘when’ the purchase was made. If it was indeed purchased on or before the end date, the purchase can remain on the grant. However, if the expense is for a service contract (e.g. maintenance agreement) and the period of coverage is beyond the grant end date, only the prorated portion within the period of performance is allowable. When all expenses have been confirmed to be final by the PI and/or BFO, RSP will generate the necessary entries to bring the available balance to $0.00 and prepare the grant for termination. Additionally, RSP will confirm that all required reports have been submitted to the sponsor.
Grant Balance
If the grant is overspent (has a negative balance available), the Grants Accountant will contact the PI/BFO/department accountant to request an unrestricted org organization code to which the expense will be transferred. A JV will then be generated for approval from the BFO and the Director of Post Award, or designee.
If the grant is a fixed price and is underspent (has a positive balance available), RSP will contact the PI/BFO/department accountant to determine which unrestricted org organization code to which the residual is to be transferred to. The JV will be generated for approval from the BFO and the Director of Post-Award, or designee. If the grant is a cost reimbursable, the grant budget will be reduced to equal the actual amount expended. The JV will be generated for approval from the BFO and the Director of Post-Award, or designee.
No-Cost Extension Request
Requests for a no-cost extension (NCE) should be submitted to the sponsor by RSP. Please contact the Associate Director of Post Award if you would like a no-cost extension for your grant. You will need to provide the new end date that you would like to request and the justification for the extension (e.g. additional time needed to complete the project due to the grant being awarded late). In most cases, additional time to expend all of the funds is not an acceptable justification. RSP will contact the sponsor and request the extension. You will be notified once the approval has been received from the sponsor. In the case of grants from the National Science Foundation, Department of Health and Human Services, National Science and National Aeronautics and Space Administration, a one-year NCE is automatic; subsequent requests for NCE need justification.
Equipment Ownership Reporting
If equipment is purchased by the grant or loaned to the University in order to conduct the research, WSU must submit the sponsor’s form to report on the status of the equipment (description, value, location, retained or returned at the end of the project). The award document will determine the frequency that this report must be submitted (i.e. annually, or at the end of the project).
Final Reports
Technical Reporting
PIs are responsible for submitting the technical reports to the sponsor. The frequency of the reporting requirements is documented in the award agreement and reiterated on the Project Administrative Summary (budget sheet). System generated emails are sent out 30 days before the report is due, on the due date and when the report becomes 30 days past due. When the report is submitted to the sponsor, RSP Post-Award is to be copied on the email that submits the report so that proof of submission can be documented in the grant folder and allow RSP to satisfy the reporting requirement in Banner. (If the report is submitted by US Mail, a copy of the cover letter that accompanied the report should be sent to RSP.)
Note: Failure to submit technical reports in a timely manner can delay payment of an invoice, delay closeout of the grant, cause an audit finding, or could result in loss of future funding.
Fiscal Reporting
All fiscal reports are to be submitted by RSP and are based on the information that is documented in Banner, the system of record. If a technical report has a fiscal component to it, the PI should forward that part of the report to RSP. RSP will prepare the information, which will be certified by the Director of Post-Award, and forwarded back to the PI to be submitted as part of the technical report.
Note: This is necessary because other institutions have received an audit finding for failure to review and certify financial information that was submitted on technical reports, whether the information was accurate or not.
Invention Reporting
At the end of the research project WSU may be required to submit the sponsor’s form to report to the sponsor if there are inventions or patents that are a result of the research. All inventions must be reported, regardless of whether they are patentable. In addition to tangible products, other examples of inventions include new software, new reagents, new uses for existing reagents, new cell lines, and new animal models. If, as PI, you believe you may have created something commercializable, such as an invention for patenting purposes, useful software, or research materials that you envision sharing with others (either for free or for a fee), please contact the Office of Technology Transfer.
