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, any awarded physical files are to be digitized for electronic storage until the specified retention period has expired and the records are destroyed. The following steps should be completed—One PDF should be created for the award’s NOAs and mods
- One PDF should be created for the remaining award documents
- PDFs should have an indicator of destruction date denoted by a date prefix in the file name
- NOAs and mods PDF destruction date = 33 years after award end date
- Remaining award documents PDF destruction date = expiration date specified in records retention schedule based on sponsor type
- These two PDF documents should be saved on the itfs1 server in the CLOSED folder nested as follows: itfs1.asu.edu > ovprea > ORSPA > Archive > K > ACCTG > CLOSED. The award archive folder should be titled with the award ID number.
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: \\cholla.rc.asu.edu\KE\PostAward\Archive\K\ACCTG\CLOSED\