2127 - Sponsored Projects Close-out

Document purpose

To establish responsibility for the accurate and timely close-out of completed sponsored projects in compliance with the sponsor’s terms and conditions.

effective

December 1986

revised

December 2014

Reviewed

May 2021

Responsible Office

Research Services

Approval

Research Services

The Policy

  1. The Principal Investigator is responsible for the preparation and timely submission of all required progress, programmatic, or technical reports.

  2. Department Business Administrators are responsible for reviewing final expenditures to be reported and providing documentation as necessary.

  3. Research Services is responsible for the preparation and submission of final financial reports and invoices, and/or final invoices or final vouchers.

  4. Reports of sponsor-owned equipment normally are to be prepared and submitted by Research Services in cooperation with the principal investigator and his/her department.

  5. When required, invention reports are to be prepared by the Principal Investigator. All such reports must be forwarded to Research Services to be signed on behalf of the University by Research Services after verification from the Penn Center for Innovation.

Roles and Responsibilities

Principal Investigator

  • Reviews and finalizes total expenditures to be reported
  • Submits progress, programmatic and technical reports, in accordance with agreement

Business Administrator

  • Reviews and finalizes total expenditures to be reported and disposition of unobligated balances, as required
  • Communicates with ORS regarding final expenditures and any outstanding closeout issues
  • Maintains documentation to support expenditures reported to the sponsoring agency in departmental files for the project

Office of Research Services

  • Initiates communication to departmental business administrators regarding closeout
  • Prepares and submits final financial reports and invoices
  • Remits unspent funds back to sponsor, as required
  • Performs closeout adjustments to disable fund accounts
  • Resolves accounts receivables issues associated with noncompliance with sponsor requirements for timely submission of required programmatic, technical or financial or other reports required for compliance with terms and conditions of the award
  • Maintains copies of financial reports and supporting documentation on file.

The source of this document is Research Services.