Grant and Contract Closing Process

Grant and Contract Closing Process
Included on this page:
 
The closing process begins when a grant or contract expires and the Final Action Date (FAD) has elapsed. The FAD is calculated to allow the PI and his or department to charge allowable expenditures after the end date while providing GCA with time to complete the final reconciliation. The FAD is posted on GrantTracker and the NOE letter mentioned in the next section. GCA will not close a budget if you notify them that you have an extension and/or supplement in progress.
 
The PI and his or her staff work with GCA to ensure that all expenditures are allowable. GCA reconciles and closes the budget. When budget, expenditures, cash and revenue are equal, and cost sharing commitments are met, GCA changes the budget status to 4 (closed).
 
  1. GCA sends a Notice of Expiration (NOE) letter to the department administrator before expiration of the budget. (The department may initiate the closing request at anytime.)
  2. Department responds to the NOE.
  3. Based upon the department response to the NOE, or if no response is received by the Final Action Date, GCA:
    • Reviews expenditures for compliance with rules and reconciles budget, expenditures, cash and revenue.
    • Prepares final adjusting transactions:
      • Journal Voucher (JV) to adjust expenditures and revenue
      • Online budget revisions to adjust permanent budget
    • Closes the budget to expenditures by changing the budget status from 1 (active) to 3 (inactive).
    • Prepares the Financial Status Report  or final invoice and submits it to the sponsor.
    • Posts the final report and/or final invoice to the department.
  4. After the final adjusting transactions are processed and the account balance is zero, GCA changes the budget status to 4 (closed) and turns on accounting flag 17 to stop the printing of Budget Activity Reports (BARs) and Budget Status Reports (BSRs).
     

PI/Staff Procedures

  1. Respond to the Notice of Expiration (NOE) on or before the FAD by sending a GrantTracker request or email to gcahelp@uw.edu.
     In the communication, address the following:
  • Does the budget have an extension and/or supplement? If yes, the budget cannot be closed at this time.
  • Are all of the expenditures allowable?
  • Are there any unposted charges and/or credits?
  • What is the status of open requisitions and outstanding encumbrances?
  • Are indirect costs accurate?
  • Is the cost share pledge met?
  1. For federal training grants, make sure that all relevant Statement of Appointment form(s) have been approved by NIH.  (PHS form 2271.)
  2. Use your answers to step 1 (the NOE questions) to determine whether your budget will have a deficit or an unexpended balance.
  3. Read Closing Types (remembering if your budget has a deficit or an unexpended balance) and
    1. Identify your type of closing
    2. Follow the steps listed under your type of closing to bring the balance to zero.

 

Contacts:

Please direct all communication regarding these budgets to GCA via GrantTracker:
 

 

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