The last step in a grant or contract’s life cycle–whether cost-reimbursable or fixed-price–is project closeout. The key feature to any close is the submission of all technical, financial, and other reports as required to the sponsoring agency on time.
The principal investigator (PI) will be notified prior to the termination date of the project. The SRS project administrator will communicate with the PI to determine if a no-cost extension will be requested or if an extension with additional funds is pending.
Your project administrator will start the closeout process and once completed, the closeout support group will take over and facilitate the communication with the other SRS and A&M System components that should be involved in the closeout process–which may include offices associated with project payroll, accounts receivable, purchasing, property, and compliance (if there are subawards or cost sharing) and/or Texas A&M System Technology Commercialization (if invention disclosures were submitted).
When a project has been completed, SRS will prepare and send whatever documents the sponsor requires to close the project out. Please be aware that many sponsors will not make final payments on awards until they have received the final technical report. So make sure to review your award document carefully and issue your final technical report after you have completed the project.
Final Technical Report
The PI on a sponsored research project is responsible for timely submission of the final technical reports. Specific sponsor requirements for the technical reports are usually defined in the award package. When the report is completed, the PI may submit it directly to the sponsoring agency whether it is an electronic submission or paper. Many sponsors have electronic systems where the PI uploads the report into their system. Below is a partial listing of sponsors and their systems:
- SRS requires a copy of the final technical report, which may be emailed to firstname.lastname@example.org or to the Project Administrator.
- The obligations of the award have not been met until the report has been submitted to the sponsor.
Final Financial Report
- The final fiscal report is generally due within 60-90 days after the expiration date of the award.
- This final fiscal report is prepared and submitted by SRS’s Accounts Receivable team.
- The PI needs to ensure that all costs have been properly reported and posted to the account.
Final Report of Inventions
- Many sponsors require reports about inventions made during the conduct of research to ensure disclosure, in which case Texas A&M System Technology Commercialization would help manage the process.
Final Property Report
- The SRS Project Administrator will prepare this report.