Post Award Management & Closeout
Overview
Successful management and closeout of sponsored projects at Idaho State University is a shared responsibility among the Principal Investigator (PI), the Grant and Contract Accounting (GCA), and the department.
Each party plays an essential role in ensuring projects are conducted in compliance with sponsor terms and conditions, university policies, and federal regulations, with appropriate stewardship of funds and deliverables.
Key Post-Award Management Responsibilities
Account Reconciliation
Regular review of project expenditures is a joint effort between the PI and GCA.
Together, they ensure that all costs charged to the project are reasonable, allocable, allowable, and consistent. Reviews should occur monthly, or at a minimum, quarterly, to identify and correct errors in a timely manner.
Effort Tracking
The PI is responsible for ensuring that effort commitments for all project personnel are accurate and reflect the actual work performed on the project.
The department assists by tracking personnel changes and adjusting employee allocations as needed.
GCA provides support by preparing time and effort certification forms at least every six months, in accordance with university and federal requirements.
Performance Monitoring
The PI, with departmental support, monitors project milestones and deliverables to ensure timely completion and compliance with reporting deadlines.
Regular communication with GCA helps prevent delays in technical or financial reporting.
Compliance with Award Terms
Each sponsor has unique rules and requirements. The PI and GCA share responsibility for ensuring that expenditures, rebudgeting, and reporting align with the award’s terms and conditions, including any requirements for prior approvals or restricted budget categories.
Closeout
Timely and thorough closeout requires collaboration among the PI, department, and GCA to meet both sponsor and institutional requirements.
The closeout process typically begins 60–90 days before the project end date to allow sufficient time for review and final submissions.
Final Review of Expenses
- The PI and GCA review all charges to ensure they are allowable and posted correctly.
- GCA assists PI and department with resolving outstanding issues and ensuring the account is ready for final reconciliation.
Submission of Final Reports & Deliverables
- The PI is responsible for submitting all required technical or programmatic reports, deliverables, and invention disclosures by the sponsor’s deadlines.
- GCA helps confirm that financial data and documentation align with these submissions.
Final Financial Documents
GCA prepares and submits final financial reports and invoices, reconciles the budget, and returns any unspent funds if required by the sponsor. The department and PI review the final financial summary for accuracy prior to submission.
Disposition of Equipment and Supplies
The PI and department must ensure that all equipment purchased with sponsor funds is properly inventoried and accounted for in accordance with sponsor and university policies.
GCA assists with determining any necessary sponsor notifications or approvals.
Record Retention
All parties share responsibility for retaining project-related records—including financial documentation, correspondence, and reports—according to sponsor and ISU record retention policies, typically three to seven years post-closeout.
Closeout Checklist
Below is a summary checklist of key steps in the closeout process.
GCA maintains a more detailed internal checklist to ensure all sponsor and university closeout requirements are met.
- All expenses reviewed and finalized (PI/Department/GCA)
- Unallowable or incorrect charges removed (PI/Department/GCA)
- Final technical/programmatic reports submitted (PI)
- Final financial report or invoice submitted (GCA)
- Equipment and supplies accounted for (PI/Department)
- Cost share documentation verified and submitted (PI/Department/GCA)
- Project records retained in compliance with sponsor and ISU policy (All parties)