UCR

Accounting



Closeout of Awards


CLOSEOUT OF AWARDS

REF: FEDERAL REGISTER OMB A-110

  1. The CLOSEOUT of a grant agreement is the process by which a Federal sponsoring agency determines that all applicable administrative actions and all required work of the agreement have been completed by the recipient and the Federal sponsoring agency.
  2. The DATE OF COMPLETION is the date on which all work under an award is completed or the expiration date on the award document, or any supplement or amendments thereto, on which Federal sponsorship ends.
  3. The Federal sponsoring agency shall obtain from the recipient within 90 CALENDAR DAYS after the date of completion of the award, all FINANCIAL, PERFORMANCE, AND OTHER REPORTS as required by the terms and conditions of the award. The Federal awarding agency may approve extensions when requested by the recipient.
  4. Unless the Federal awarding agency authorizes an extension, a recipient shall liquidate all obligations incurred under the award not later than 90 calendar days after the funding period or the date of completion as specified in the terms and conditions of the award or in agency implementing instructions.

The campus has experienced delays in receiving payments on invoices as well as new and renewal awards due to the failure to submit pertinent reports to the sponsoring agencies on a timely basis. Contributing factors for late financial reports have been OVERDRAFTS and UNEXPENDED BALANCES. When these situations occur the PRINCIPAL INVESTIGATOR is responsible for clearing these by:

  1. Preparation of a TRANSFER OF EXPENSE or other documents necessary to transfer charges to another appropriate fund source (other than Federal) in an overdraft situation.
  2. Seeking assistance from the Department Chair or Dean's Office in obtaining appropriate funds.
  3. Ensuring that all appropriate expenses are reflected on the ledger within 90 days of expiration.
  4. If a balance remains at the end of the award, preparation of a memo directed to the Accounting Office stating that the unexpended funds should be returned to the awarding agency.

More Information

General Campus Information

University of California, Riverside
900 University Ave.
Riverside, CA 92521
Tel: (951) 827-1012

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Accounting Office

Physical Address:
14350 Meridian Parkway, Riverside, CA 92518
Visitors to the IntelliCenter must be registered in advance

Mailing Address:
UC Riverside, Accounting Office-002
Riverside, CA 92521

Office Hours:
Mon-Fri (8:00 am - 5:00 pm)
Sat-Sun (Closed)

Tel: (951) 827-3303
Fax: (951) 827-3314
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