Award Close-Out

The Emory University Award Closeout Procedure achieves the following:

  • Compliance with the requirements of all sponsors
  • Effective fiscal management of awards
  • Data integrity is maintained from timely closeout of expired projects

All sponsoring agencies (federal and non-federal organizations) expect the university to adhere to the reporting requirements outlined in the Notice of Award (NOA). Failure to do so can jeopardize current and future funding; therefore, it is essential that terms are met.

While it is the responsibility of OGCA to prepare and submit final invoices and FSR's, this is done based on the expenses on the general ledger and any adjustments provided by the department. It is therefore the responsibility of the department to ensure that all expenses have been included in the final invoice or report and that the expenses are allowable. If there are expenses which have not been posted to the general ledger but are pertinent to the award being closed, it is the responsibility of the department to bring this to the attention of OGCA and provide the supporting documentation so that OGCA's reports and invoices can correctly capture all costs associated with the award.

The reporting requirements of sponsors vary. Some require semi-annual, annual or one report at the end of the project period which could cover several years. Therefore, it is advisable that the PI and the department continually monitor each award to ensure spending is consistent with the budgets for each reporting period as well as other terms and conditions of the award. OGCA will mainly review an award at the time a report is due. OGCA will not be conducting any periodic review of an award as a standard practice. However, collaboration with the department to keep projects clean and less problematic at time of reporting is certainly encouraged.

90 Days Prior to End

  • The Department should run the following queries to review projects and identify which contracts are ending:
    • EU_GM_PROJ_LIST_BY_PROJ_DEPTID - This query provides a list of projects with their end dates by the project's department ID. In addition to the project numbers and start and end dates, this reports also includes other useful information such as name of sponsor and project title or description.
    • EU_GM_PROJ_LIST_BY_CONTR_DEPTID - This query provides a list of projects with their end dates by the contract's department ID. In addition to the project numbers and start and end dates, this reports also includes other useful information such as name of sponsor and project title or description.
  • Run queries/reports to get final financial information:
  • SPP 2242 – This report is Emory University's General Ledger and is used for our billing and FSR preparation. It contains the budget authorized and expenses as of a specified date including current date. Also, this report is generated from our General Ledger.

These reports should be reviewed to confirm the accuracy of:

  • Budgets
  • Expenses
  • Encumbrances
  • Balance or deficit/overrun
  • F&AC calculations
  • Exclusions
  • Subcontract payments made
  • Cost share/program income, if applicable
  • Allowability of costs

1 - 60 Days After End date


  • Reconcile the projects and make all adjustments before FSR is prepared
  • Submit Journal Entries and RSTs if necessary
  • Reconcile award to arrive at final reportable expenses
  • Update HRAFs so that payroll is not sent to suspense
  • Review FAC charges and request adjustments if necessary
  • Confirm balance to be returned to the sponsor if applicable
  • Review expenses to ensure all subcontract invoices have been paid. Contact subcontractor for final invoice if not received.
  • Provide additional expenses to be included in the FSR with the necessary documentation
  • Submit cost transfers to clear deficits if necessary
  • Provide any additional details the sponsor requires on the FSR such as percent effort, title, etc
  • Complete and provide copies of other forms such as termination notices, statement of appointment, etc.
  • Include copy of any CAS approval if applicable


  • Review costs for allowability
  • Review all details and documentation received from the department
  • Makes FAC adjustments if necessary
  • Validates program income/interest income with the department if applicable
  • Reviews Cost Share information received from the department
  • Confirm carryover amount to be requested

Between 60 and 90 Days After End


  • Prepares final Invoice/FSR and send to the department for review and approval.
  • Should department want to include additional expenses during this period; they must be accompanied by all supporting documentation to be included in the report.
  • Requires WRITTEN approval from the department that the final invoice/FSR is agreed upon.
  • Determine the disposition of balances as per terms of the agreement
  • Process refunds immediately upon completion of the FSR
  • Provide department with a signed copy of the FSR


  • Provides WRITTEN approval of final invoice/FSR
  • If additional expenses are to be included during this period, they must be submitted to OGCA along with necessary documentation upon receipt and review of the first draft of the FSR.


  • A copy of the report is submitted to the PI/Dept with advice regarding:
  • Deficits
  • Residuals
  • Residuals are kept if approved by Sponsor. If not, AP is notified to issue a refund.
  • Before Closeout is Complete, the following must be done:
  • Ensure all deliverables have been submitted to the sponsor.
  • Budget must equal expenses reported
  • All cash must be received and posted to the award
  • Deficits must be resolved
  • Refunds or residual transfers must be processed
  • Award close out finalized
  • Project status is set to CLOSED
    • OGCA will inactivate award after above steps have been completed.


  • 90 Days Prior to End Date – Department Review Period

    • Department runs queries and identify awards to be closed
    • Department run reports and review financial information on award
  • 1- 60 Days after End Date – Adjustment Period

    • Department submits adjustments (journals, RSTs)
    • Reconcile award and determine final reportable amount
    • Request FAC Adjustments
  • 61-90 Days After End Date – FSR Preparation and Submittal Period

    • OGCA drafts FSR and sends to the department for approval
    • Any additional expenses to be included in the FSR during this period must be submitted with supporting documentation immediately upon receipt and review of the draft by the department.
    • Written approval of the FSR is sent to OGCA.
    • Refunds are processed immediately upon submittal of the FSR to the sponsor
  • 90 Plus Days after End Date- Closeout Period

    • All closeout steps above to be followed
    • OGCA will inactivate award if all closeout criteria have been met.

The Adjustment Period is equal in length to the interval of time required by the sponsor for the submission of the financial report, less 30 days (Submit Final Report value minus 30 days). The exception to this general rule is when the final financial report is due 30 days after the Account End Date. In this case, the Adjustment Period is equal to 15 days.