Financial Closeout

All award lines/grant worktags (formerly known as accounts) will undergo a closeout process when they are terminated prior to the original expiration date, or when the budget/project ends. Depending on the project, the budget may need to be closed and reopened each year.

When an award ends, the sponsor may require certain deliverables, such as technical, property and financial reports. The Department of Contracts and Grants (DCG) is responsible for non-financial deliverables, for more information, please visit DCG’s Award Closeout page.

The Award Contract Owner from Sponsored Projects Accounting (SPA) is responsible for producing and submitting the Annual/Final Report of Expenditures, and/or invoices. In addition, SPA will also close the corresponding award, award line, and grant records in Workday (WD). Note: Closed award line and grant indicates that all reported activities were already posted on the award line/grant, and no further activity are expected. Department will need to work with the Award Contract Owner to determine whether the report/invoice could be revised.

SPA is required to report expenses for the duration of the budget/project period before the report due date, which varies depending on the award’s terms and conditions (upon expiration, 30 days, 60 days, 90 days closeout, etc.). If no due date is specified, the university sets a default due date of 90 days after the award expiration.

Closeout Award Tasks

Award Tasks in WD are used to track and monitor milestone deliverables, annual and final financial reports. Milestone deliverable tasks and Annual financial reporting tasks requirements vary depending on award requirements. However, each award will have two closeout/final related Award Tasks:

  • Financial – Final – Dept: Assigned to the Grant Manager of the primary award line/grant worktag. This award tasks starts 90 days before the actual final financial report due date, which depends on the award’s terms and conditions. Department will have 60 days to complete the award tasks providing SPA with the information needed to complete the closeout/final financial report. Note, the award task may start before the award expiration date depending on when the report is due to the sponsor. This allows both department and SPA time to reconcile and complete the report.
  • Financial – Final – SPA: This award start starts 30 days before the actual final financial report due date. With department’s response from their award task submission, SPA will proceed with producing the report. Once submitted, SPA will complete the Award Tasks and attach a copy of the financial report on the WD Award record.

Award Tasks can be delegated in Workday to an authorized designee by the following steps:

  1. From the Award Task action in your inbox, click on the Gear icon and select “Delegate Task”.
  2. Under Proposed Delegates, enter the receiving designee’s name. Enter a comment if needed, and then click the “Submit” button.
  3. The task will route into the designee’s inbox and out of the original designee’s inbox.

Department Responsibilities

Use the Grant Management Dashboard or run Task Status for My Awards report separately to identify Award Tasks that have started for your awards. Within the period of 60 days, the Grant Manager assigned will be responsible to conduct the following for the primary award and coordinate with the satellite Grant Managers (if different) to gather their award lines/grant worktags information:

  • All award expenses are reviewed and posted on the appropriate award line/grant worktag.
    • For transfer of costs, complete:
      • Payroll Accounting Adjustment for payroll cost (formerly known as Payroll Expense Transfers/PET)
      • Accounting Journal for non-payroll cost (formerly known as Non-Payroll Expense Transfers/NPET)
    • For vendor invoices and/or Concur, work with Procurement Office.
    • For internal services, work with the related Internal Service Providers (ISP).
    • For pending expenses to be posted, must provide SPA with Workday Document ID (preferred), vendor documentation, and/or specific payroll transaction details. Emails with just a dollar amount and vague description is unacceptable. The following are examples of acceptable Workday Document IDs:
      • Non-Payroll: JE-, REQ-, PO-, PV-, SINV-, ISD-, AHBT-, etc.
      • Payroll: PAA Workday ID
        • Found via Related Action of the PAA document > hover over Integration ID > click on “View IDs”.
  • All Cost Share amounts are booked on the corresponding award line/grant worktag.
  • All additional supplemental documentations are filed, which includes, but limited to:
    • Specific invoice templates
    • Specific reporting templates
    • Unobligated Balances:
      • If the sponsor requires unobligated balances to be returned, SPA will issue a refund with the completed Final Report of Expenditure and/or invoice. Note: Once funds are returned to the sponsor, it is difficult to ask for reauthorization of funding.Unobligated balances for fixed-price/rate awards do not need to be returned to the sponsor; however, you must complete the Unobligated Balance from a Fixed-Price Contract Form from the Department of Contracts and Grants website under the Common forms & Templates > Post Award section.
  • If the award is pending extension, documentation (agreement/email correspondence) from sponsor and/or DCG must be provided to SPA. Otherwise, the award will continue to be closed out.

Once the Grant Manager completes the above items, they will Complete Award Tasks in WD and under Comment indicate response to SPA. SPA will review and send back to the Grant Manager, if needed. Otherwise, SPA will approve and proceed with producing and submitting the report to the sponsor, then complete the award tasks and attach the report to the Attachments tab in the Workday Award record.

Your department’s timely response is crucial. Failure to meet the reporting requirements could impede reimbursement and, more importantly, subsequently funding.

Closeout Details for DHHS Sponsored Awards:

DHHS sponsors has updated their process regarding the submission of Final Federal Financial Reports. If your expired award is funded directly through DHHS sponsors, please ensure you review the DHHS closeout details.

Inactivate Grant Worktag

When SPA submits the financial closeout report, SPA will inactivate Grant Worktag and update the Award and Award Line Lifecycle Status to “Closed” in WD. This will stop any further charges from posting to the Grant Worktag’s general ledger. If the Grant Worktag has pending expense(s), the Award Line Lifecycle Status will indicate “Final Reconciliation”. SPA will monitor the general ledger for three months. If the pending expense(s) is not posted by the third month, SPA will review the report, inactivate the Grant Worktag, update the Award Line Lifecycle Status to “Closed” in WD, and return any unobligated funds to the sponsor. Once the Grant is Inactive and/or Award Line Lifecycle Status is “Closed”, no further activity can be made on the Grant. This includes requisitions, supplier invoices, change orders, etc. Department will need to work with the Award Contract Owner to determine whether the report/invoice could be revised.

Workday Award/Award Line Status Definitions:

Award/Award Line StatuesDefinition
Closeout In ProgressExpired award under review by department and then SPA to closeout. Note: Closeout period varies depending on award terms and conditions.
Final ReconciliationCloseout submitted to sponsor, but still available in WD for pending final activities: pending expenses, payment, UOB, removing obligation. No additional unreported expenses should post on this status unless sponsor approval provided.
Freeze / Freeze for Effort CertificationAward is frozen due to department request to freeze for internal purposes or due to incompliance.
Extension In ProgressWhen sponsor agreement is provided to SPA and DCG pending to process in Cayuse.
ClosedOfficially closed and no additional financial activities allowed.

Revisions

Closeout can be revised due to allowed additional cost or reduction of expenditure.

For the case where the award has a reduction of expenditure, please notify your Award Contract Owner (SPA).

In the case an award needs to be revised for increase in expenditure, please obtain sponsor approval before taking action. After receiving sponsor approval, notify your Award Contract Owner (SPA) and they will work out a plan of action to revise the original closeout.