The final stage of the grant life cycle is the Closeout stage. This includes finalizing expenditures, submitting final reports and invoices, and complying with record retention policies.
The final reporting and closing out of expenditures should start 90 days before the end date on the grant and after the end date ranges from 15–90 days, depending on the funding agency and grant agreement. After all reporting is completed and the University receives the final payment, the project will be closed. Records of the project must be retained in compliance with State of Missouri regulations and/or those of the funding agency.
Learn about how a grant of fee for service contract is managed after it is awarded. This process includes managing funds, reporting, and navigating university resources.
Following University and funder guidelines is critical in managing a grant or contract. The Compliance section provides guidance and resources for keeping in good standing with a funding agency. Additionally, specialized web-based compliance training, CITI, is available at no cost to UCM personnel and students.
The State of Missouri issues required record retention for this office. The OSPRI Record Retention schedule is included for grants and contracts in compliance with the State’s regulations. Depending on the type of project or the funding agency, records may need to be retained longer that the state requires.