Tips and Reminders from Karon Gray and Dana Simpson from OSP
As our Principal Investigators seek collaborative and innovative means to produce cutting edge research, Georgia Tech has seen an increase in the number of subawards issued. Whenever a subaward is issued, we take responsibility for monitoring the progress and performance of our collaborator’s work. Though budgetary and technical accountability readily come to mind as some of the “strings” attached to sponsored funding, the importance of subrecipient monitoring during the closeout process is often overlooked. If we don’t meet our closeout requirements we may become subject to audits and other penalties or even lose future funding.
The best predictor of future potential is past behavior. In this regard, closeout can be likened to the report card of how well we have managed our subawards. OSP’s Closeout Division is making great strides in meeting closeout requirements so we can get high marks. Our closeout unit is divided into Prime Closeout and Outgoing -Subagreement Closeout. Closeout requirements of Georgia Tech’s Prime Sponsors normally flow down to our Subrecipients. If a requirement applies to the Prime award, it applies to the Subrecipient 9 times out of 10! Closeout does not simply entail the submission of deliverables & payment of final invoice, it also includes final patent reporting, final property disposition, final classified materials disposition, de-obligation of unbilled funds to financially closeout, and quick closeout negotiations. Since every subaward that Georgia Tech issues will require closeout, we hope the attached PDF will provide some helpful guidance to make the process happen smoothly.
- New CIS Feature: Effective June 22, 2017, a new feature was added to CIS to prevent funds from being unencumbered prior to subcontractor’s submission of final invoice/ closeout completion. An e-mail ICOL notice is now generated as “Comments Added to Subagreement by OSP” and sent to GIT/GTRI to advise that subcontractor’s final rates/final invoice are pending and to make provisions for payment consideration of forthcoming final charges in accordance with acceptable accounting practices. The notice will also appear in the Activity History as a quick update to all advising of why closeout has been delayed for a particular subcontractor.
Note: GIT/GTRI may contact GA Closeout to facilitate the negotiation of the de-obligation of unbilled funds to financially closeout the subagreement if so desired. However, it should be noted that the subrecepient is not required to agree to the de-obligation.
- New Financial Hire: We have hired a financial administrator who will be responsible for monitoring the billing activity of all subawards/subcontracts and work with the department in addressing timely billing in addition to keeping an eye on excessive amounts of money left on subcontracts near the end of the performance period.
- We Are Taking Our Show on the Road! : The Georgia Tech Closeout Division will visit departments in the near future to conduct a closeout presentation, advise of future development regarding our standard closeout procedures and how changes will impact the units, and answer questions. Further announcements regarding dates, time, and locations will be made through the RAB listserv.