Finishing
a grant project is just as important as starting one. In many cases,
the way in which close-out procedures are handled, such as timely submission
of final reports and the quality of those reports, can have a direct
effect on the chances for future funding.
There are six areas of management that need particular attention at
the close of a funded project: budget, personnel, purchasing activities,
files, final reports, and document storage. Contact your Grants Accountant
and schedule a close-out meeting at least two months prior to the end
of the grant.
Budget: Review encumbrances and liquidate those no
longer needed. Banner accounts will be closed soon after the grant’s
ending date, so inform staff that no more changes can be made against
the grant account.
Personnel: Complete termination paperwork for all staff
and, if required, payroll changes for those staff transferred to other
cost centers or to the new grant number assigned to a continuing grant.
Purchasing activities: Make sure all goods and services
have been received prior to the end of the grant, although payment may
occur soon after the end of the grant. Make arrangements for transfer,
removal, or reassignment of the telephones. Check and reconcile bookstore
charges. Match equipment purchases with requisitions and check receipt
of items. After checking with the Grants Manager, contact the Grant
Officer about the disposition of grant-funded capital equipment.
Grant files: Review grant documents, personnel records,
purchase orders and requisitions, and budget records, including necessary
documentation for changes. A general sprucing up is usually in order
after the last burst of grant activity. Remember, auditors are the ones
who may next be burrowing through these documents.
Final reports: Covered under "Reports."
Double and triple check publications to be certain that the funding
source is credited before printing is approved.
Do not make unusual expenditures at the end of the project. Purchases
of supplies or equipment may be disallowed by auditors if they occur
too late in the program to be legitimately needed by the project.
Finally, arrange for appropriate storage of grant files if the project
is not a continuing one or if a logical, responsible party to the files
is not on the horizon. Work with the Grants Manager on this.