Reporting, Reconciliation and Project Closeout
The Reporting area compiles all external financial reporting to various sponsoring agencies on a quarterly, semi-annual, annual and final basis. In addition, the Reporting area ensures that all sponsored projects are inactivated in a timely manner. External financial reporting includes the following activities:
- Compiling an annual and final UG report for federally sponsored projects to verify that certain restricted expenses are in accordance with Uniform Guidance guidelines and the sponsor approved budget.
- Analysis of charges after the project's end date to validate if amounts should be encompassed in the final report.
- Performing an annual and final cost share review that illustrates the departmental contribution on behalf of the University of Michigan.
- Adjusting encumbrances that are applicable to the grant period but have not been reflected in the University's financial system as of the date the report is being submitted to the sponsor.
- Follow up with department administrators, ORSP, and sponsors regarding the status of pending extensions of grants and contracts.
The project director (PI) is responsible for the submission of all technical reports.
Please see our Sponsored Programs Organization Chart for all staff members.
Learn more about working in Reporting!
Project/Grant Closeout Checklists
Purpose: The responsibilities of a research administrator, or the single administrative point of contact (SAPOC), are varied and numerous. To support SAPOCs and units, we provide this Project Financial Closeout Guide, along with two choices of Project Financial Closeout Checklists, with the goal of helping you successfully manage pre-closeout tasks, the financial closeout process, and avoid delays and/or financial liability to the unit.
How to Use These Resources: This Project Financial Closeout Guide is a companion document to the two Project Financial Closeout Checklists. You can choose either checklist. Both documents contain the same essential information, but they are organized differently: one as a Timeline Approach and the other with Areas to Address.
Project Financial Closeout Checklist Option 1 – Timeline Approach: The first checklist, Timeline Approach, works backward from the deadline, lists the steps and appropriate lead time to close out a project. You can take a proactive and timely approach without waiting to receive the Financial Status Report (FSR).
Project Financial Closeout Checklist Option 2 - Areas to Address: The second checklist, Areas to Address, is organized topically to help you recall all the actions you need to take (e.g., what to reconcile, and, generally, who to consult) without waiting for your FSR. When you know the timing, you can use this as a reminder of all the areas that need attention. This is particularly useful for unit-initiated early closeouts.
You can choose which checklist to use, and send one to your Sponsored Programs Customer Service Representative to process your closeout when it's due or when you need to initiate an early closeout request.
Not every step or task is applicable. Several of the items within each list are linked directly to the companion document: Project Financial Closeout Guide, so that you can refer to it to find definitions, contact numbers or website URLs.
To assist in long-term planning, it may be useful to download a list of projects from Business Objects using a user-defined time period (sort by deptid, SAPOC or other data point): Business Objects > User-Shared > Sponsored Programs > Data Integrity > 90 Day Info