The closeout of a project is the process by which the sponsor determines that all applicable administrative actions and all scientific work or project performance has been completed. Grants are considered complete when all work under the grant is finished or the date on which grant support comes to an end. If, at the end of the project period, the Principal Investigator (PI) has not secured a continuation, supplement or no-cost extension, closeout must be initiated. Since granting agencies usually do not send notices of upcoming end dates or expiration letters, it is the PI's responsibility to check the award document for all pertinent details about closeout procedures, required documents or reports and due dates. RSP will send the PI a notice of the upcoming end of the period of performance at 120-90-60-30 day intervals prior to the end date (see RSP000018 Grants Ending Within 30/60/90/120 Days in Information Navigator). These notices require the PI to review grants/funds for specific purposes at these intervals and to assist RSP in preparing for the termination of the project.

Key features of closeout are the submission of all final technical and fiscal reports and the settlement of cash (including disposition of property) (see Closeout Documents). Unspent balances may have to be refunded to the sponsor. Charges to the project are not permitted after the termination date, although purchase orders for outstanding items (i.e., encumbrances) or other final disbursement such as last payroll or monthly billing charges may still be honored. Salaries for work performed by either salaried or Other Personal Services (OPS) employees, purchasing, and travel must all be performed within the project period dates.

The requirement to retain records is not affected by closeout, nor is the sponsor’s right to audit records. In addition, grantee's responsibility to be accountable for property, royalties and program income is not affected by closeout.