The Closeout Packet (COP) is a product of fund closeout and is due to EFM in advance of the Sponsor due date (See the Closeout Deadlines page). It is the Department’s way of communicating to EFM the final project expenditures. Specifically, the COP confirms which expenses charged are allowable, allocable, and reasonable to the award. It may also answer questions needed to properly close a fund and prepare the final invoice and/or financial report if required. Upon receipt of a complete and accurate COP, EFM will proceed to submit the final invoice and/or financial report (if required) to the sponsor.
The COP consists of reports used to highlight expenses that may require additional review. Additional documentation needed to verify expenses may also be submitted with the packet. Within the COP, certification is required by the department fund administrator(s) and PI to confirm final figures to be used for fund closeout.