Awards may expire on the expected end date, when a study is closed or when deliverables are completed. Awards may be terminated before the expected end date by the sponsor or by UMB. In all cases, certain actions are required to ensure that the award can be officially closed. Financial Close-out Check the award document to determine the deadlines for the final invoice and/or expenditure report
Reconcile the account. Ensure that any subrecipients have submitted their final invoices, and that the invoices are approved and paid
Contact Restricted Funds before the invoice/fiscal report deadline
For Standard type projects, the final invoice or final fiscal report will be based on expenses as recorded in eUMB. Unexpended funds will not be available for expenditure and will be returned to the sponsor
For Deliverable type projects, the PI/institution is allowed to keep any unspent funds. The direct cost portion of unexpended funds will be moved to a revolving fund within the department upon request by the department
Payments are tracked in eUMB by Restricted Funds. An “aging” schedule is maintained for non-receipt of payments. Work with Restricted Funds to follow up on sponsor payments. A common reason for non-payment is that the sponsor has not received all required reports.
Technical Report – The project report is the responsibility of the Principal Investigator. In the absence of the PI, it may be completed by a colleague. Technical reports may be sent directly to the sponsor with a copy (preferably PDF) to Office of Research and Development. Invention Report – Sponsors often require a list of inventions made using funds from the award. The PI sends a memo or email to Office of Research and Development reporting the relevant inventions or “no inventions”. Similar reports should be obtained from each subrecipient investigator. Office of Research and Development submits the report to the sponsor after verification. Property Report – Some sponsors require a report on equipment inventory. Completion of the report is the responsibility of the department; the report will be signed by a UMB authorized official. Contact the Quality Assurance section of the Office of Financial Services for assistance with inventory reporting. | 
