Review the budget and compare it with actual expenditures. Determine whether the performance of the funded activities will be completed by the end of the award period. If additional time is needed, contact the POC to discuss an extension request.

Compare the PI’s tracking spreadsheet and the current Banner data to determine if all expenses have posted to the index. If expenses should have posted, find out why they haven’t. For outstanding expenses that have not yet posted, submit copies of the documents submitted for payment along with a spreadsheet listing the outstanding expenses to the POC. All discrepancies between the PI’s records and the index must be substantiated with appropriate documentation in order to reconcile index expenditures.

Commitments and encumbrances listed on the index in Banner have to be closed/cleared through the department they originated with, so PRs and MOAs will be closed/cleared through Purchasing and travel through Travel Accounting.

It is a condition of the award that all required reports be submitted to the sponsor according to the schedule provided in the award documents. It is incumbent upon the PI to ensure that required information needed for reports is complete and that all reports are submitted on time. Failure to submit timely reports can jeopardize both the PI and university’s eligibility for future funding.

Your Post-Award POC will prepare and submit the final financial report. The POC will work with the PI to complete the report. It is important to estimate anticipated expenses and include them in the final invoice even if they have not posted in the Banner accounting system to the index by the final invoice due date. It is important to understand some charges may take several months to post to the index.

Additional expenses posted to the project index, after final payment from the sponsor is received, will be transferred out. Encumbrances will be resolved and deleted. For project indexes with a positive cash balance at their end, such as for Firm-Fixed Price contracts, remaining indirect costs equal to or greater than $100 will be distributed according to university policy. The balance will be transferred to the PI’s indirect cost account. The project index will be closed when the cash balance is equal to zero.

The Revised Code of Washington (RCW 40.14) requires the university to maintain all financial and programmatic records for a period of at least six (6) years from the date of the issuance of the audit report including the specific award. Contact the OGRD to determine appropriate storage and disposition of any records related to awards.

The State of Washington conducts annual audits. All awards are subject to an in-depth review. If an auditor contacts sponsored project personnel and/or makes a records request, refer them to the Director of Post-Award Administration. The OGRD coordinates all external audits with the PI and other university units as appropriate.