A sponsored project ends upon the project end date as indicated by the award terms and conditions. At the time of a project's end, the Office of Sponsored Projects (OSP) works with the principal investigator (PI) to ensure that all conditions for award compliance have been met. Below are activities that occur as part of the account closeout process.
To initiate closeout procedures, an automated notice is sent by OSP to the PI 45 days prior to the project end date. The notice includes a checklist to assist the PI in preparing for project closeout per the project award terms and conditions. As part of the closeout process, below are items that will require review:
- Reconcile account expenditures (expenses incurred beyond the project end date are not allowable).
- Encumbrances are to be processed and/or released by the project end date or within the closeout period as determined by the award terms and conditions.
Cost Share (if applicable)
- Report and reconcile required cost share.
Equipment/Property Greater than $5,000 (if applicable)
- Reconcile any government-owned property or project purchased equipment.
- OSP will submit the final property report.
Patents and Inventions (if applicable)
- Reconcile any project patents or inventions with the University of Nevada, Reno Technology Transfer Office.
- OSP will submit the final patents and inventions report.
- Final progress/technical report: Submit timely per the award terms and conditions with an electronic copy to OSP.
- Financial report: OSP will prepare and submit the final financial report.
- Unused personal property report (if applicable): Provided by OSP for PI review and signature to be returned to OSP for processing.
A sponsored project is closed after the above closeout requirements are completed and all funds invoiced have been received from the sponsor.