Research Administration > EFM > Closeout Packet

Closeout Packet

 

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.

Closeout Packet Tools

 

The Closeout Packet can be prepared using two methods: RAPID Closeout Tool or PAMS

 

  • RAPID Closeout Tool is an Excel-based tool that generates a Closeout Packet (See the Closeout Resources page). Upon completion, departments upload the closeout packet to PAMS.
  • PAMS is a central web-based system that can be used for Closeout Packet preparation and completion. It is currently available to pilot users. For further information, please refer to PAMS page.

 

 

Revised Closeout Packets

 

  • A revised closeout packet, accompanied by the Revision Request form, are required when the variance between the final expenditure of the revised closeout packet and that of the original closeout packet is greater than $100 (See the Closeout Resources page).
  • Certification of the Department’s fund administrator (RAPID Closeout Tool) or department preparer and department approver (PAMS) approval are always required in the revised closeout packet.
  • PI’s recertification is required only when the variance is greater than $500.

 

 

 

PI Certification

 

  • PI is required to certify to the accuracy of the final expenditure contained in the closeout packet and the Revision Request form.
  • PI’s recertification is required in the revised closeout packet and the Revision Request form when the variance between the final expenditure of the revised closeout packet and that of the original closeout packet is greater than $500.
  • For closeout packets using the RAPID Closeout Tool, PIs may perform his/her certification electronically rather than by hard copy signature. E-mail certifications are acceptable.
  • For closeout packets using PAMS, PIs may perform his/her certification by uploading a scan of their approval (signed certification or e-mail) to the system.