An award closeout is the final reconciliation and reporting of expenses and activities. This involves reviewing project expenditures, resolving open commitments, collecting subrecipient documents, and preparing required final reports and deliverables for submission to the sponsor including:
Financial Reports/Invoices
Scientific/Technical Reports
Milestone Deliverables
Invention/Property Statements
Timeliness of final reporting is crucial to ensure compliance with sponsor requirements. Typical deadlines are outlined below.
Award Type | Reporting Due Date |
|---|---|
Federal | 90-120 calendar days after expiration |
Federal Pass-Through | 45-60 calendar days after expiration |
Other (e.g., State of TN) | See Contract (deadlines vary and may be earlier). |
Failure to submit reports by the deadline can result in suspension of the principal investigator (PI) and/or university from receipt of additional funding, reimbursement for current costs, and ability to submit future proposals. University closeout policies and procedures were developed to ensure that all sponsor requirements are met in accordance with Federal Uniform Guidance standards. Click for additional information regarding closeout procedures.
The closeout process is monitored by the Award Management Team in SPA. Please contact Michelle Wachter with questions or for more information.
Invention Reporting
At the end of the research project VU may be required to submit the sponsor's form to report to the sponsor if there are inventions or patents that are a result of the research. All inventions must be reported, regardless of whether they are patentable. In addition to tangible products, other examples of inventions include new software, new reagents, new uses for existing reagents, new cell lines, and new animal models. If, as PI, you believe you may have created something commercializable, such as an invention for patenting purposes, useful software, or research materials that you envision sharing with others (either for free or for a fee), please contact the Center For Technology Transfer And Commercialization.