Research Administration > EFM > Closeout Procedure

Procedure

 

This page describes the procedure to prepare a final invoice and/or financial report for awards extramurally sponsored by government, non-profit, and for profit entities, for organized research, instruction and training, and other sponsored activities (e.g. public service, community service, health service projects, etc.) at UCLA..

Prior to Fund Expiration

  • ORA sends three notifications to alert Principal Investigators and department fund managers as follows;
    • On 90 days prior to fund expiration
    • On 30 days prior to fund expiration
    • On the day of expiration
  • The notification includes the fund expiration date, the current balance, EFM contact as well as key demographic information of the award including PI name, project title, sponsor award number and etc. Templates of automatic notifications can be located at the Closeout Resources page.
  • Upon receipt of the notification 90 days prior to the fund expiration, all campus departments (including organized research units) start actively preparing to close out the fund to submit the closeout packet, including any supplemental schedules and supporting documentation as applicable. To ensure appropriate and complete review, “Department checklist at 90 days prior to fund expiration” can be used as a guideline. The checklist can be located at the Closeout Resources page.

  

After Fund Expiration

  • ORA sends closeout packet (COP) reminders 15 calendar days prior to the COP deadline (COP reminders may be sent prior to the fund expiration depending on the due date of the final to the sponsor).
  • Departments prepare and submit the COP to EFM by the deadline. Closeout packets are due to EFM in advance of the sponsor due date. To assist in determining the deadline depending on Sponsor’s due date, refer to the Due Dates table in the Closeout Deadlines page. 
  • EFM reviews the closeout packets submitted by department fund manager and may make further inquiries if the closeout packet is not prepared in a complete manner or requires more clarification on documentation included in the closeout packet.
  • Based on additional information provided by department fund managers in response to EFM’s inquiries, if the final figures need to be adjusted, a revised closeout packet may be required depending on the amount of variance between the original final figures and revised final figures. To assist in determining when a revised closeout packet is required, refer to the requirements for a revised closeout packet (See the Closeout Packet page). Once EFM completes review of the closeout packets in accordance with Sponsor and University’s policies and guidelines, EFM prepares and submits the final invoice and/or financial report to the sponsor.  
  • When the COP is not submitted to EFM by the deadline or required information is not provided timely, EFM will proceed to prepare the final invoice or financial report based on expenses posted to the general ledger excluding questionable costs. EFM will provide these figures to the department and request confirmation of final expenditures, refer to the Due Dates table in the Closeout Deadlines page.

 

After Submission of the Final Invoice and/or financial report to Sponsors

  • Departments transfer unallowable and/or inapplicable expenses and clear encumbrances and memo-liens from the fund within 30 calendar days from the due date of final invoice or financial report.
  • EFM provides Principal Investigators and department fund managers with a copy of the final invoice and/or financial report submitted to the sponsor.
  • Copies of the final invoice and/or financial report submitted to the sponsor are retained in PAMS. 
  • Departments maintain appropriate and sufficient supporting documentation for all transactions posted to the funds as the office of records. In the event of audit, departments provide EFM with requested documents to support any questioned transactions and are responsible for the expenses that are concluded unallowable and/or inapplicable by the auditor.

 

Process Flowchart

 

 

 Download Fund Closeout Process Flowchart PDF File