Award Closeout Policy and Procedures

Background

Award Closeout is the process by which Wisconsin Partnership Program (WPP) administration determines that the proposed scope of work and all applicable administrative actions have been completed by the recipient.

Definitions

Obligation: accrued expenditures, goods received or services rendered, that still require payment to be made by the recipient. Obligations do not include planned or designated activities where a service has yet to be provided or a good has not been received.

Policy

Recipients must complete the following closeout actions by no later than 90 calendar days following the award end date:

• Reconcile all financial expenditures associated with the award
• Liquidate all financial obligations incurred during the award period
• Submit the Final Report, final Financial Reimbursement Report and Final Non-Supplanting Questionnaire

Final payment will be made upon receipt of the above documents. Any unspent funds remaining at the end of the award will be returned to WPP. Recipients external to the Universities of Wisconsin shall submit a copy of their annual audited financial statements that encompass the financial activity of the final year of the WPP award within eighteen months of the award end date.

Failure to submit complete, accurate and timely reports may affect the recipient’s eligibility to receive future funding from WPP. Records must be maintained in accordance with WPP Financial Records Retention Policy.

Procedure

Recipients will receive email notification that their award is ending both 90 days and 30 days from their award end date.

Once the recipient completes all closeout requirements, WPP administration will promptly complete all closeout actions for the award. Closeout actions include steps taken in the Fluxx grants management and the UW Shared Financial System.