The University of Maine complies with the Federal Office of Management and Budget Uniform Guidance (OMB Uniform Guidance) for managing sponsored projects, including accurate and timely award closeouts. This policy applies to all university personnel involved in managing sponsored awards and contracts.
When a project reaches its end date and no further time or funding is needed, the account will close. At closeout, several reports are typically required. The Principal Investigator (PI) and administrative offices share responsibility for ensuring timely closure and submission of all required reports.
Effective project management throughout the award helps prevent post-award issues.
A No-Cost Extension may be requested for additional time to complete project objectives without extra funding. Sponsor approval is required.
Equipment purchases in the final three months of a project require prior approval and strong justification, unless a renewal award is expected.
Submitting financial status reports (FSRs) per 2 CFR 200 (formerly OMB A-110, Section 200.327)
Ensuring all sponsor-required financial reports are completed accurately and on time
Review account activity for inappropriate charges
Perform account audits
Complete salary distribution and T&E form reviews
Conduct F&A review
Reconcile project accounts
Prepare and submit cost adjustment forms, as needed
Principal Investigator (PI) CLoseout Responsibilities
Submit the final technical report on time, as defined in the award terms
Send a copy of the transmittal (cover letter/email) to ORA Post Award Staff
If sponsor requires a university-authorized signature, submit the report to ORA for review and submission
Disclose all inventions and new technologies; ORA will request final verification at project end
Confirm list of equipment/property purchased during the award
Notify payroll and service/recharge centers of account changes
Resolve any budget overruns or erroneous charges
Additional Closeout Information
Subawards
Subawards must be formally closed before project closeout is complete
Closeout actions should begin immediately after the subaward ends
A subaward is not considered closed until all requirements are fulfilled
Important Notes on Compliance
Failure to meet closeout and reporting requirements may result in:
Delays or cancellation of continuation awards (PI and campus-wide)
Suspension of payments from sponsors
Early termination of awards
Loss of federal funding eligibility
Please contact ORA to be connected with the appropriate team (i.e. Fiscal Services or Post Award) if you need additional guidance by sending an email to ora@maine.edu
