{"id":250,"date":"2025-10-29T18:31:59","date_gmt":"2025-10-29T18:31:59","guid":{"rendered":"https:\/\/www.research.colostate.edu\/osp\/?page_id=250"},"modified":"2026-04-09T16:11:02","modified_gmt":"2026-04-09T16:11:02","slug":"financial-management-project-closeout","status":"publish","type":"page","link":"https:\/\/www.research.colostate.edu\/osp\/financial-management-project-closeout\/","title":{"rendered":"Financial Management &amp; Project Closeout"},"content":{"rendered":"\n<div class=\"wp-block-columns is-style-divider-energy-green is-layout-flex wp-container-core-columns-is-layout-28f84493 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:66.66%\">\n<p>Financial Management and Project\/ Award Closeout have shared responsibilities between the Principal Investigator (PI), unit administrators, and OSP as detailed in the&nbsp;<a href=\"https:\/\/www.research.colostate.edu\/osp\/financial-management-project-closeout\/financial-management-matrix\/\" data-type=\"page\" data-id=\"252\">Financial Management Responsibility Matrix<\/a>. Award expenditures should be monitored for allowability, allocability, and benefit to the project and accounts should be reconciled on a monthly basis to aid in efficient and timely closeout at project end.<\/p>\n\n\n\n<details class=\"wp-block-details is-style-details-outline is-layout-flow wp-block-details-is-layout-flow\"><summary>Financial Management<\/summary>\n<p>Financial management involves monitoring project expenditures and cost share obligations. Accounts should be reviewed and reconciled monthly for spend rate and to prevent over-expenditures.<\/p>\n\n\n\n<p>OSP is responsible for invoicing, drawdown of funds, approval of cost transfers, and financial reporting. If financial information is needed for a technical report, please contact OSP post-award for verified financial data.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Requests for sponsor-approved carry-forward or re-budgeting requests should be submitted to the relevant OSP S\/RA, including adequate justification and any required sponsor forms.<\/li>\n\n\n\n<li>Requests for&nbsp;<a href=\"https:\/\/www.research.colostate.edu\/osp\/guidance\/\" data-type=\"page\" data-id=\"31\">cost transfers<\/a>&nbsp;involving personnel costs will be processed in the HR system. Payroll adjustments over 30 days will route to OSP post-award for review and approval.<\/li>\n<\/ul>\n<\/details>\n\n\n\n<details class=\"wp-block-details is-style-details-outline is-layout-flow wp-block-details-is-layout-flow\"><summary>Project\/Award Closeout<\/summary>\n<p>Award closeout is the final reconciliation and reporting of project expenses and activities. Sponsor terms and conditions may require deliverables such as a final report or closeout form at the end of a project in order for CSU to receive final payment.<\/p>\n\n\n\n<p>Closeout activities include reviewing project expenditures, resolving open commitments, collecting subrecipient documents, preparing final reports for submission to the sponsor, and account\/award close in KFS. Refer to the&nbsp;<a href=\"https:\/\/www.research.colostate.edu\/osp\/financial-management-project-closeout\/project-closeout-matrix\/\" data-type=\"page\" data-id=\"223\">Project Closeout Responsibility Matrix<\/a>.&nbsp;<\/p>\n\n\n\n<p>To facilitate a timely closeout, OSP recommends reviewing project details at 90, 60, and 30 days prior to the project end date. If a no-cost extension is needed, contact the relevant OSP S\/RA to begin the process. Use the&nbsp;<a href=\"https:\/\/www.research.colostate.edu\/osp\/guidance\/\" data-type=\"page\" data-id=\"33\">Award Closeout Checklist<\/a>&nbsp;to aid you<em>.<\/em><\/p>\n\n\n\n<p>Items for review prior to closeout:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Required invention, patent, and property reports have been submitted through the CSU Ventures Technology Transfer Office (TTO).<\/li>\n\n\n\n<li>All expenditures have posted (incl. charges from recharge centers, purchasing cards, travel cards, tuition, labor, etc.).<\/li>\n\n\n\n<li>All unallowable charges have been removed.<\/li>\n\n\n\n<li>Staff have been terminated or moved to another funding source.<\/li>\n\n\n\n<li>Outstanding encumbrances have been liquidated.<\/li>\n\n\n\n<li>Accounts are not over-spent and deficit balances have been cleared.<\/li>\n\n\n\n<li>Cost share obligations have been met.<\/li>\n\n\n\n<li>Final invoice from subrecipients have been received.<\/li>\n\n\n\n<li>Final payment has been received.<\/li>\n\n\n\n<li>Final expenditures reported to the sponsor match the total expenditures in KFS.<\/li>\n\n\n\n<li>If a fixed-price award, a residual funds&nbsp;<a href=\"https:\/\/www.research.colostate.edu\/osp\/guidance\/\"><u>sweep <\/u><\/a><u><a href=\"https:\/\/www.research.colostate.edu\/osp\/guidance\/\" data-type=\"page\" data-id=\"33\">request<\/a><\/u>&nbsp;has been sent to OSP. Refer to the Quick Clip video on the&nbsp;<a href=\"https:\/\/www.research.colostate.edu\/osp\/training\/on-demand-learning\/\" data-type=\"page\" data-id=\"178\">Sweep Process.<\/a><\/li>\n\n\n\n<li>Project deliverables have been met (incl. subrecipient deliverables).<\/li>\n\n\n\n<li>Final technical\/scientific reports have been submitted with a copy provided to OSP.<\/li>\n<\/ul>\n<\/details>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33.33%\">\n<p><a href=\"https:\/\/www.research.colostate.edu\/osp\/financial-management-project-closeout\/financial-management-matrix\/\" data-type=\"page\" data-id=\"254\">Financial Management Responsibility Matrix<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.research.colostate.edu\/osp\/financial-management-project-closeout\/project-closeout-matrix\/\" data-type=\"page\" data-id=\"252\">Project Closeout Responsibility Matrix<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Resources<\/h3>\n\n\n\n<p><a href=\"https:\/\/www.research.colostate.edu\/osp\/guidance\/\" data-type=\"page\" data-id=\"33\">Account guidance (sweep, over expenditures, cost transfers)<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.research.colostate.edu\/osp\/about-osp\/#data\" data-type=\"page\" data-id=\"17\">Commonly Requested Info<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/csustrata.org\/\" target=\"_blank\" rel=\"noreferrer noopener\">CSU STRATA<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.research.colostate.edu\/osp\/effort-certification-reporting-technology-ecrt\/\" data-type=\"page\" data-id=\"244\">Ecrt<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/symphony.colostate.edu\/\" target=\"_blank\" rel=\"noreferrer noopener\">Symphony<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.ecfr.gov\/cgi-bin\/text-idx?tpl=\/ecfrbrowse\/Title02\/2cfr200_main_02.tpl\" target=\"_blank\" rel=\"noreferrer noopener\">Uniform Guidance<\/a><\/p>\n<\/div>\n<\/div>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-cover alignfull is-style-brushstroke-green\"><span aria-hidden=\"true\" class=\"wp-block-cover__background has-csu-green-background-color has-background-dim-100 has-background-dim\"><\/span><div class=\"wp-block-cover__inner-container is-layout-constrained wp-block-cover-is-layout-constrained\">\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-28f84493 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<h2 class=\"wp-block-heading has-bodoni-font-family\">Award Lifecycle<\/h2>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n\t<div class=\"alignnone is-style-icon-list wp-block-stalwart-blocks-call-to-action\">\n\n\t<ul class=\"stalwart-ctas is-style-icon-list columns-1\" id=\"stalwart-ctas-block_d88acb5215cd31cd3192d6cf48a30ec6\">\n\n\t\t\t\n\t\t\t\t\n\t\t\t\t<li class=\"stalwart-cta-single has-link\">\n\n\t\t\t\t\t<div class=\"stalwart-cta-content\"><h3 class=\"stalwart-cta-heading\"><a class=\"stalwart-cta-link\" href=\"https:\/\/www.research.colostate.edu\/osp\/proposal-budget-development\/\">1. Proposal &amp; Budget Development<\/a><\/h3><\/div>\n\t\t\t\t<\/li><!-- .single-cta -->\n\n\t\t\t\n\t\t\t\t\n\t\t\t\t<li class=\"stalwart-cta-single has-link\">\n\n\t\t\t\t\t<div class=\"stalwart-cta-content\"><h3 class=\"stalwart-cta-heading\"><a class=\"stalwart-cta-link\" href=\"https:\/\/www.research.colostate.edu\/osp\/proposal-review-submission\/\">2. Proposal Review &amp; Submission<\/a><\/h3><\/div>\n\t\t\t\t<\/li><!-- .single-cta -->\n\n\t\t\t\n\t\t\t\t\n\t\t\t\t<li class=\"stalwart-cta-single has-link\">\n\n\t\t\t\t\t<div class=\"stalwart-cta-content\"><h3 class=\"stalwart-cta-heading\"><a class=\"stalwart-cta-link\" href=\"https:\/\/www.research.colostate.edu\/osp\/award-receipt-negotiation\/\">3. Award Receipt &amp; Negotiation<\/a><\/h3><\/div>\n\t\t\t\t<\/li><!-- .single-cta -->\n\n\t\t\t\n\t\t\t\t\n\t\t\t\t<li class=\"stalwart-cta-single has-link\">\n\n\t\t\t\t\t<div class=\"stalwart-cta-content\"><h3 class=\"stalwart-cta-heading\"><a class=\"stalwart-cta-link\" href=\"https:\/\/www.research.colostate.edu\/osp\/account-setup-award-administration\/\">4. Account Setup &amp; Award Administration<\/a><\/h3><\/div>\n\t\t\t\t<\/li><!-- .single-cta -->\n\n\t\t\t\n\t\t\t\t\n\t\t\t\t<li class=\"stalwart-cta-single has-link\">\n\n\t\t\t\t\t<div class=\"stalwart-cta-content\"><h3 class=\"stalwart-cta-heading\"><a class=\"stalwart-cta-link\" href=\"https:\/\/www.research.colostate.edu\/osp\/financial-management-project-closeout\/\">5. Financial Management &amp; Project Closeout<\/a><\/h3><\/div>\n\t\t\t\t<\/li><!-- .single-cta -->\n\n\t\t\t\n\t<\/ul><!-- .stalwart-ctas -->\n\n\t<\/div>\n<\/div>\n<\/div>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Financial Management and Project\/ Award Closeout have shared responsibilities between the Principal Investigator (PI), unit administrators, and OSP as detailed in the&nbsp;Financial Management Responsibility Matrix. Award expenditures should be monitored for allowability, allocability, and benefit to the project and accounts should be reconciled on a monthly basis to aid in efficient and timely closeout at [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"microsite":[],"class_list":["post-250","page","type-page","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.research.colostate.edu\/osp\/wp-json\/wp\/v2\/pages\/250","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.research.colostate.edu\/osp\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.research.colostate.edu\/osp\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.research.colostate.edu\/osp\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.research.colostate.edu\/osp\/wp-json\/wp\/v2\/comments?post=250"}],"version-history":[{"count":0,"href":"https:\/\/www.research.colostate.edu\/osp\/wp-json\/wp\/v2\/pages\/250\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.research.colostate.edu\/osp\/wp-json\/wp\/v2\/media?parent=250"}],"wp:term":[{"taxonomy":"microsite","embeddable":true,"href":"https:\/\/www.research.colostate.edu\/osp\/wp-json\/wp\/v2\/microsite?post=250"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}