Closeout of Awards

	
	  CLOSEOUT OF AWARDS            REF:  FEDERAL REGISTER  OMB A-110




1.	The CLOSEOUT of a grant agreement is the process by which a 
	Federal sponsoring agency determines that all applicable 
	administrative actions and all required work of the agreement 
	have been completed by the recipient and the Federal sponsoring 
	agency.


2.	The DATE OF COMPLETION is the date on which all work under an 
	award is completed or the expiration date on the award document, 
	or any supplement or amendments thereto, on which Federal 
	sponsorship ends.


3.	The Federal sponsoring agency shall obtain from the recipient 
	within 90 CALENDAR DAYS after the date of completion of the 
	award, all FINANCIAL, PERFORMANCE, AND OTHER REPORTS as required 
	by the terms and conditions of the award.  The Federal awarding 
	agency may approve extensions when requested by the recipient.


4.	Unless the Federal awarding agency authorizes an extension, a 
	recipient shall liquidate all obligations incurred under the 
	award not later than 90 calendar days after the funding period 
	or the date of completion as specified in the terms and 
	conditions of the award or in agency implementing instructions.



                                
The campus has experienced delays in receiving payments on invoices as 
well as new and renewal awards due to the failure to submit pertinent 
reports to the sponsoring agencies on a timely basis.  Contributing 
factors for late financial reports have been OVERDRAFTS and UNEXPENDED 
BALANCES.  When these situations occur the PRINCIPAL INVESTIGATOR is 
responsible for clearing these by:

	a.	Preparation of a TRANSFER OF EXPENSE or other documents 
		necessary to transfer charges to another appropriate fund
		source (other than Federal) in an overdraft situation.


	b.	Seeking assistance from the Department Chair or Dean's 
		Office in obtaining appropriate funds. 
                             

	c.	Ensuring that all appropriate expenses are reflected on 
		the ledger within 90 days of expiration.


	e.	If a balance remains at the end of the award, preparation
		of a memo directed to the Accounting Office stating that 
		the unexpended funds should be returned to the awarding 
		agency.