Reporting & Closeout

Share

Financial Reporting

A Federal Financial Report (FFR) is due annually 90 days after the end of each budget period. C&G Accounting prepares and submits FFRs.

To complete the FFR, C&G Accounting will require that departments confirm the following information:

Total final expenditure amount

→ Total unliquidated obligations

Unliquidated obligations include direct and indirect expenses incurred but not yet charged to the award, and they are reported to secure funds for trainees with the ongoing appointments that cross over into the next budget period. These obligations may include stipends, tuition & fees, and student health insurance.

Unliquidated obligations can only be reported for the trainees’ appointments already in place and expenses for the future, to-be-hired, trainees are not allowed. 

Example 1: Unliquidated Balance Tracking Worksheet (.xlsx)

See downloadable excel file

If the FFR report covers the final budget period of the project period, it must have no unliquidated obligations and must indicate the exact balance of unobligated funds. 

→ Total unobligated balance

Funds listed in the FFR in the total unobligated balance are being reported as no longer required for the trainee support, and consequently the award budget is reduced to reflect this de-obligation of funds. Carryover of unobligated funds requires prior approval from NIH.

Example 2: Unobligated Balance
If the unobligated balance on the Year 1 FFR was $62,898 and the carryover of funds was approved by NIH for the same amount, NIH will use this balance to offset NIH funding for a subsequent budget period. The amount will show under “Less Unobligated Balance” as shown in the image below. The image below shows that $379,994 is awarded because NIH used the $62,898 unobligated balance from Year 1 to fund the current budget period. The original awarded amount is still $442,892. 

text above describes this screenshot of an award calculation

NOTE: It is the department’s responsibility to work with the PI and your SPA officer to request carryover approval from NIH.

Closeout

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. 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.

Contracts and Grants Accounting (CGA) will not be able to draw down funds from the federal government if expenses are not posted on the ledger within 90 days.

For more information on NIH’s enforcement of closeout policies, please see notice: NOT-OD-18-107.

In preparation for a closeout and during the closeout process, CGA will complete the following: 

  • Notify department with a reminder of an upcoming closeout deadline 60 days before end date
  • Confirm that expenses are posted within the budget period
  • Reconcile overhead and process adjustments if they are required
  • Request final drawdown from Payment Management System (PMS)
  • Prepare and submit Final Financial Report (FFR) to NIH

In anticipation of the award ending, the Principal Investigator and Departmental Administrators should work on the following steps:  

  • Ensure that all allocable expenditures are posted to the project in a timely manner
  • Review the status of any outstanding liens, Purchase Orders (POs), and Blanket POs
  • Review all expenditures to ensure compliance with terms and conditions of the award
  • Redirect salaries and rechargeable services planned for the future research work not covered by the award
  • If applicable, review any applicable cost sharing contribution, and complete the cost sharing report
  • Complete and submit Final Research Performance Progress Report (F-RPPR) within 120 calendar days of the end of the project period. The reports become overdue the day after the 120 day period ends.
  • Provide total expenditure amount, total unliquidated obligations, and total unobligated balance to CGA accountant, Judy Mach (judym@uci.edu

News & Announcements

View More