Project Close-Out

Portland State University follows the federal award closeout time frame of 90 days following the award’s performance period end date. By the end of the 90 days, all expenses must be recorded and reconciled, cost transfers or corrections complete, and any cost overruns moved to converted fixed price or department funds. The PI or designee works closely with the Research Accountant to ensure that closeout goes smoothly and all necessary reports are filed with the granting agency.

If the award is fixed price, depending on the terms of the award, work may continue beyond the end date. For more information, please read the Financial Close Out for Fixed Price Agreements policy.

Roles and Responsibilities

Office of Research and Sponsored Projects

  • Notice to PI 90 days before the project end date. This notice alerts the PI to request a time extension if needed. Also, the PI should check expenses at that time to be sure that all costs have been charged to the grants and cost shares as needed.
  • Process all final patent, invention, technology transfer reports and contract release form for the funding agency. Notify the Research Accountant that project reports have been submitted.

PI or Designee

  • Review expenses and resolve any questions or problems in cooperation with the Research Accountant.
  • Initiate any necessary transactions to record final expenses.
  • Submit all final technical/program narrative reports to the funding agency. Notify the Research Accountant by email of report submission.
  • Submit all project deliverables to funding agency or agents. Notify the Research Accountant by email of completion of project deliverables.

Research Accounting Office

  • Work with PI or designee to ensure that all grant related expenses are recorded correctly in Banner to the award or associated cost share.
  • Final reconciliation of expense. Work with PI to resolve any overexpensed award conditions.
  • Verify all final project reports have been processed and submitted to the funding agency.
  • Verify that all funds have been received from the sponsor.
  • Process final budget adjustment to match expenditures on the award.
  • Terminate the fund/index number in Banner FIS and in the RA Database.
  • Archive all grant related documents for the period of retention per the terms of the award.
  • At the end of the retention schedule arrange for secure disposal of documents.