Closeout and Audit

Closeout and Audit

Closing Out An Award - PI's are responsible for submitting final financial, technical, and narrative reports, as well as final expense requests per award terms.  A Close-Out Checklist and e-mail are sent to the PI ninety and sixty days prior to end date to initiate close out actions.  ORSP and the Business Office facilitate final reporting and meet with the PI for final budget reconciliation and close out planning. ORSP sends the Notice of Closed Award to the PI after the process is complete.
 
Audits - Award audit is managed through the Business Office, with ORSP facilitation. Auditor interactions are referred to the Business Office.  ORSP stores award documentation for 7 years, including:
  • Original proposal
  • RFP/RFA
  • Award letter, agreement and related change correspondence
  • Award budget and monthly budget reconciliations
  • Annual and final progress reports—narrative, technical and financial
  • Compliance documents, where applicable