Closeout is the process in which the awarding agency determines that all applicable administrative actions and all required work with the award have been completed by the recipient.

Closeout is required after an award is completed. Awards are considered completed when all work is finished or on the date on which the award expires or terminates. If, at the end of the project period, the Principal Investigator has not secured a renewal, supplement or no-cost extension, closeout must be conducted.

Federal sponsors have a requirement that closeout documents be submitted to the awarding agency within 90 days after the end of the period of performance; therefore, all expenses must post within 90 days of the budget period award end date.

Some sponsors require that the closeout is completed much sooner, so it is important to review the terms of the award. For example, most Federal flow-through awards require a closeout to be completed within 60 days of the award end date to allow for the prime recipient to complete a timely closeout of the entire project within 90 days.

For financial requirements for closeout, please refer to the CGA website.

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