Responsibility: ORSPA-FOT
Prepared by: FOT
Work Instruction Number: WI-CP-20
This work instruction contains the following sections:
Close account
An award is ready for Closeout review after AMT has completed the final reporting requirements for the award. AMT will also prepare and F&A reconciliation which breaks down the total direct and F & A costs and any resulting direct cost deficits, F&A adjustments or residuals that need to be processed before the award can be closed. The breakdown will include the totals by grant and award.
Fiscal Oversight’s Accounts Receivable, Collections and Closeouts (ARCC) team is responsible for inactivating grant accounts and closing awards and award lines in both Workday and ERA. They confirm that:
- Final fiscal, property, and patent deliverables are complete
- There are no outstanding encumbrances on the grant account
- The subaward supplier contract in WD and record in ERA are closed
- Direct costs and indirect costs in WD match the final reconciliation on record in Awards Sharepoint
- Final payment has been received by the sponsor
- Award line has $0 expenses in unbilled status
- Expenses = Revenue Recognized = Payments Received = Billed
Detailed instructions are located in ORSPA’s internal Sharepoint training > closeout folder.
Archive project documents
Sponsor and University legal requirements exist for records retention periods, records storage, and records destruction. The requirements vary by sponsor and type of records. Sponsor requirements can be determined by reference to official sponsor guidance.
The Sponsored Projects Records Retention Schedule is maintained by the Arizona State Library, Archives, and Public Records under Schedule Number: 999-07-15.
Upon completion of the closeout account process, awarded physical files are either sent to Surplus for archiving or archived on site. Destruction occurs once retention period has passed.
Digital records for older awards whose files have not previously been stored in physical (paper) format can be found at the following location once having logged into the VPN: \\horizon.rc.asu.edu\ke\PostAward\Archive\K\ACCTG\CLOSED