Office of Sponsored Programs
The Ohio State University

Project Closeout

The following guideline pertains to awards for which the Office of Sponsored Programs is required to submit final administrative materials (invoice, fiscal and patent reports, etc.) within the ‘standard’ 90 days after the end date and to fixed price awards. The time frame may change if a sponsor has other requirements.

60-90 days before a project ends, the sponsored program officer contacts the PI with a list of steps that need to be completed to ensure orderly project close-out. PI responsibilities include:

  • ensuring that all personnel are moved to another project or a department fund at project end
  • ensuring all required cost sharing is documented
  • reviewing outstanding commitments and informing OSP Purchasing (using the PI Portal email) of those that can be relieved
  • reminding subcontractors that a final invoice must be submitted within 45 days of the subcontract end date
  • ensuring that all project costs are incurred by the project end date
  • resolving any potential project over expenditures
  • completing final technical report or other project deliverables
  • settling cash advances, including final invoices and the return of unspent cash

Department Chairs are informed if there is likely to be significant project over-expenditure.

Costs will continue to post to the project for up to 60 days after the end date e.g., final month’s payroll, payments for orders placed close to the end date, etc. During this time, the PI and department can also make any cost transfers necessary to correct errors or reduce over expenditures.

For cost reimbursable projects, 60 days after the end date, the project will be closed to further activity and OSP Fiscal Services will prepare the final invoice to the sponsor, as well as any required fiscal and administrative reports (e.g., patent and property reports).

Within 30 days after the final invoice is submitted, OSP Fiscal Services will transfer any project over-expenditures to the appropriate organizations using fund 017000. The project that generated the overrun will be referenced in the line description of the transfer.

For fixed price projects, 60 days after the end date, the project will be closed to further activity and OSP Fiscal Services will inform OGC of remaining balance. If the remaining balance is <25% of the total award amount, that balance (minus F&A that would otherwise have been collected by the University) will be transferred to the appropriate organizations using fund 047000. The project that generated the residual will be referenced in the line description of the transfer. If the balance is >25% of the award amount the SPO will work with the PI to ensure that all project costs have been posted. Any balance >25% must be justified and approved before it can be returned to a department.

Costs that continue to post against a closed project (e.g., UNITS charges that have not been redirected) will be transferred monthly to the appropriate organizations.