PROCEDURE RA2090 CLOSEOUT TIMELINE AND CHECKLIST
Process Owner: Research Administration
Subject Matter Expert: Assistant Vice President for Research (Post-Award Contractual Compliance)
Policy Steward facilitating procedure: Senior Vice President for Research
In accordance with Policy RA90 Finalization and Closure, this procedure defines the closeout timeline for sponsored awards and provides a checklist for completing required tasks.
The following timeline is based on the standard 90-day closeout requirements specified in Policy RA90 Finalization and Closure. If a sponsor requires an earlier closeout period or grants additional time to complete closeout, the timeline below will be adjusted accordingly. The Office of the Senior Vice President for Research (OSVPR) Post Award Contractual Compliance office has created a sample closeout checklist that business units may use as a tool to facilitate closeout activities. Units may modify the checklist to meet unit-specific needs and/or unique sponsored award requirements
- If the Principal Investigator (PI) needs more time to complete sponsored activities or reporting requirements, a request must be made to the sponsor. Research Accounting cannot extend the end date of an award. The end date will change when Research Accounting receives the modification from the Office of Sponsored Programs (OSP).
- All direct cost categories (salaries, equipment, supplies, tuition, etc.,) must be reviewed by the PI and BA Research Office staff for completeness, accuracy and allowability before the end date or budget period.
- The PI and BA Research Office staff also must review cost-sharing and salary cap (if applicable) to ensure all cost-sharing and salary cap requirements will be met prior to the end date of the award.
- All necessary adjustments should be made before the close of the budget period or, if this is not possible, during the typical 60-day period between the Hold Close and End Dates.
- Equipment purchases within the last 90 days of the budget period are generally not permitted, and, if done, must be fully documented and justified.
- If the award includes sponsor-titled equipment, contact Asset Management (formerly Property Inventory) to plan for disposition or transfer to another award.
- Research Accounting will send a Closeout Report that provides a Closeout Form to the BA's Research Office.
- If a final invoice from a sub-awardee has not been received, the BA Research Office should contact the sub-awardee.
- The PI and BA Research Office will confirm that all expenditures were incurred prior to the end date of the award. (The one exception to this can be found at 2 CFR 200.461, which permits charging of publication and printing costs between the end date of the award and the closeout of the award. See Policy RA65 Non-Personnel Costs for additional guidance regarding the charging of these costs.) All payroll adjustments must be posted either during the budget period or in the adjustment period. For payroll adjustments that are beyond the validation date in the System for Integrated Management, Budget, and Accounting system (SIMBA), send an extension request form to Research Accounting with explanation of the necessary adjustment. If the project is not ready to be closed, the PI and BA Research Office must contact the sponsor to seek a No Cost Extension (NCE).
- If required, Cost Share, salary cap adjustments, and sub-award transactions must be finalized in SIMBA.
- If required, Program Income must be reviewed to ensure that no unspent funds remain. If unspent funds remain, expenses may need to be moved off the grant and onto the Program Income Internal Order (IO).
- The PI must verify that the final technical report has been submitted to sponsor. It is considered a best practice to provide the BA Research Office with a copy of the report's cover page and transmittal.
- When the Hold Close Date expires, SIMBA status changes to Closing/Research Accounting, which authorizes Research Accounting to submit the final billing and financial reporting. Once in Closing/Research Accounting, no additional direct costs can be posted to the grant.
- For federally funded awards, exceptions to posting expenditures beyond the Budget Validity To date require approval from Research Accounting.
Violations of University policy or procedure should be reported to the appropriate supervisor, unit manager, Human Resources representative, or the office responsible for the relevant policy or procedure. If these channels are insufficient or unavailable, individuals may submit an anonymous report through the Penn State University Hotline, accessible via the Reporting at Penn State website.
Research Accounting is responsible for ensuring that procedures pertaining to the accountability and safeguarding of all cash receipts, cash funds, and other assets are established and followed in accordance with approved University policies and procedures. Regular audits relating to advances, cash, travel, equipment accountability, and other expenditures provide a means to protect University assets. Research Accounting is responsible for collaborating with Internal Audit when audits are being performed in the administrative area. Audits relating to sponsored activities or other audits performed by external auditors may also be performed. Research Accounting and the Strategic Finance Partner for OSVPR would also be responsible for collaborating with the external auditor and/or a central university office related to these procedures.
University Records retention must be managed in accordance with Policy AD35 University Archives and Records Management, and Records Retention Schedules.
Additional questions may be directed to the Office of Records Management.
There are no exhibits associated with this procedure.
For questions or additional details, please contact the Assistant Vice President for Research (Post-Award Contractual Compliance).
To request changes to this procedure, please contact the Office of Systems & Procedures by submitting a GURU Technical Support Request form.
November 26, 2025
- November 26, 2025 - new procedure
- November 26, 2025 - Original
