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Award Closeout

Award Closeout. ERA Process. Summary of Closeout Schedule (awards with reports due 90 days after end date). AWARD END DATE. - 60. – 30. + 30 days. + 60. + ~75. + 90. Departmental Pre-Expiration Review Slot. OSR Close Slot 14 days. Departmental Post-Award Review Slot.

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Award Closeout

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  1. Award Closeout ERA Process

  2. Summary of Closeout Schedule (awards with reports due 90 days after end date) AWARD END DATE - 60 – 30 + 30 days + 60 + ~75 + 90 Departmental Pre-Expiration Review Slot OSR Close Slot 14 days Departmental Post-Award Review Slot Initial Review & I-Journals Continue review & I-Journals Finalize review & I-Journals Set up Early Acct on Renewal On-line Exp Statement On-line Exp Statement On-line Exp Statements Request No-Cost Extension Printed Exp Statement Printed Exp Statements Post Final Expenses Email From OSR Acct OSR/Unit Interaction 60 day After Notif. 75 day After Notices Close Notif. Advance Close Notif. On-Time Final Reports All project time extension requests should be submitted Last opportunity to check for errors (on-line expenditure statement date + 2 working days) Last day for changes or to provide evidence of an agency-approved time extension

  3. Award Closeout Start Early! Manage accounts well through life of project Monthly Review Quarterly Review w/ PI Use Exception Report to clear off unallowable expenses (run this minimally quarterly)

  4. Award Closeout Closely Review Balance & Commitments 3 – 6 months prior to end date Determine if no cost extension is needed Establish new commitments w/ PI Avoid transferring cost – only if needed Do not let award go into overdraft

  5. Award Closeout Process • Reports/Review for Closeout • Use the “Closeout Checklist” (http://ora.stanford.edu/ora/osr/close_out/closeout_forms.asp) • Copy of Original Final Budget • Run Rpt 179 – print tab 9 (FSR Summary) • Run Rpt 279 – download data into Excel • Analyze data/Identify issues • PI Effort, Clear Non-Salary Commits, Unallowables, • Process transactions (e.g., LDA, iJournals, etc.) • Re-run Rpt 179 • Notify OSR award ready to close

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