Last updated August 19, 2005
A. General. To ensure proper grant and contract termination procedures, the Grants and Contracts Office, the department and the PIs each have specific responsibilities. Final billings and financial reports must normally be submitted within 60 days of grant or contract termination. As such, it is important that the following activities are finalized in a timely manner.
B. Procedures. Departments and PIs should review and verify that all expenses appear on Banner at the termination date. Expenditures can be viewed on Banner form FGIBDST. If there are differences and/or any revised circumstances, the Department or PI should proceed as follows:
B-1. Expense Changes and/or Revised Circumstances. If there are extensions of time or increased funding, the department should notify the Grants and Contracts Office immediately. Additional costs to be included on the final invoice should be submitted to the Grants and Contracts billing unit within 21 days after the termination date of the grant.
B-2. No Changes Required. If there are no corrections, the final billing or financial report will be prepared from the information available. The department will have 10 working days to review and approve the final billing or report. If there is no response, the billing or report will automatically be submitted to the granting agency.
B-3. Limited Revised Final Billings or Reports. A revised final billing and/or financial report will not be done without written explanation from the PI, approved by the department chair or director, and the Manager of Grants and Contracts.
B-4. Termination Certificates. When a grant or contract has terminated and all the requirements fulfilled by the department and PI, a Termination Certificate is required from the department. This certification is kept in the Grants and Contracts Office with the grant or contract audit file. The audit file is maintained for six years, unless IP issues are relevant, and consists of, if applicable, the following documentation:
- Billings, receipts
- Contract/award certification
- Cost sharing
- Cost transfers
- Personnel Activity Reports
- Miscellaneous financial reports and records
In addition, the department is required to maintain the following information for the above mentioned audit file:
- Technical reports
- Supporting documentation for cost transfers, inventory, and all expenditures
- Miscellaneous correspondence regarding the project(s)
C. Information. Any questions regarding termination certificates and/or procedures for grants and contracts should be addressed to the Grants and Contracts Office, (208) 885-6689.