Award Closeout Activities

The activities which happen throughout the award closeout timeline generally include:

  • Confirming that all expenditures, including salaries, posted correctly during the closeout adjustment period.
  • Completing the final budget review in all categories of direct costs (salaries, equipment, supplies, tuition, etc.) to ensure they are complete, accurate and allowable and making adjustments to and processing any final expenditures, including cost-shared expenses. (Once GCAS has submitted the final financial report to the sponsor, any remaining project funds are no longer available to pay expenditures and any subsequent expenditure will be charged to the PI’s department or school.)
  • Initiating cost transfers in accordance to GW's Cost Transfers on Sponsored Projects Policy, if necessary.
  • Verifying that any outstanding encumbrances[1] have been paid or liquidated[2].
  • Preparing and submitting final technical, patent and property reports (as may be required).
  • Identifying files for retention in accordance with regulations.

View the Sponsored Projects Closeout Checklist (DOC)

 


[1] Funds that have been set aside or "reserved" for projected expenses pending actual expenditure of the funds.

[2] Process of releasing the unused funds in order to free the funds for other uses. See “Liquidating Encumbered Funds” on the GW Procurement and Travel Services website.

 

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