APU Grants Hub

Office of Research and Grants


Allow enough time to prepare final close out reports before the final close out date. The principal investigator/project director will review the research outcomes and compare them to the project plan and goals to make sure all final project reports are prepared and submitted to the Director of Grants Management before the reporting deadline. The quality of the report is important and may impact chances for future funding for the principal investigator/project directors and for APU.

The Grant Accountant works with the principal investigator/project director and department assistant (designee) to ensure all allowable expenditures/purchases and costs shared are timely and accurate. The Director of Grants Management facilitates a detailed final close out report with the Grant Accountant and the principal investigator/project director. At this time, final indirect costs recovery income entry should be performed, all expenses should be reviewed and any unallowable expenses should be identified and corrected. After the final review, no more purchases or expenses should be added into this account anymore.

Depending on the sponsor’s requirements for invoicing and financial reports, payroll and non-payroll expense detail may need to be submitted along with the final invoice/drawdown. For accounts with direct cost encumbrances, encumbrances should be clear and be reported on the final invoice as a work-paper adjustment. If the project has cost sharing, final cost share reconciliations should be performed.

For fixed cost contracts (where contractor pays a firm amount regardless of the ultimate cost to complete the project), any expenses not covered by the grant must be covered by a non-restricted account. If there is a residual (revenue exceeds expenses) after all indirect costs have been transferred, any remaining balance should be returned to the sponsor. If the contract states that there is no need to return excess funding, the remaining funds will be moved to the school or department restricted research account, according to the school’s policy and the Dean’s decision.

After all required reports and adjustments are resubmitted, the account will be closed out. The principal investigator/project director and his/her department, the Director of Grants Management, and the Business Office should maintain the project files. The official grant file may be in electronic or paper format, or a combination of both. The file should include all significant records pertaining only to the particular grant. These records should include, but are not limited to, the complete application(s), summary of review actions, award notices, progress reports, financial records, audit records, official correspondence, all compliance certificates and forms, closeout documents and all other supporting and related papers.

For sponsored project records, APU follows Federal rules and policies regarding record retention. Per the Office of Management and Budget (OMB) 2 CFR 200.333-337, any sponsored project related files must be kept for at least three years from the date of the final financial report submitted. However, some sponsors may require the records to be retained more than 3 years. Since the grant period may range from one or more years, the 3-year period starts at the end of the grant. For example, the records of a grant starting in 2006 and ending in 2009 should be kept until 2012 or 2013 depending on the date of the final financial report submission. For more information, see APU’s Record Retention and Destruction Policy at https://docs.google.com/a/apu.edu/document/d/1sFudsIhBcSUjI8Hq7NbfVbFlqSyMASV-r9PERU-OiIY/edit.

Grants Lifecycle