Closeout Procedure

About Closeout Procedure

When a project is scheduled to end, ORSP initiates the closeout. This procedure ensures the completion of all financial and programmatic sponsor requirements and addresses the following: 

• Early identification of potential problems that may prevent a timely closeout process
• Confirmation that all project expenses are entered into the financial report and final invoice
• Completion of all sponsor requirements (technical, programmatic and financial)
• Identification of any project deficits or surpluses
• Inactivation of the project so that no additional financial activity may occur