Dear Colleagues,
We have been experiencing wonderful success with our research fund account Smart Closeout Tool over the last several months. Use of the tool has increased to 99% of all closeouts submitted to EFM, and we continue to hear positive feedback on the tool’s usefulness in communicating final figures among fund managers and fund accountants.
The RAPID workgroup that developed the Smart Closeout Tool also established deadlines for submission of fund closeout packets to EFM and procedures for PI certification of financial reports and invoices as set out below.
Due Dates for Closeout Packets:
Closeout packets are due to EFM in advance of the sponsor due date. Please see the chart below to assist in determining the deadline for submitting closeout packets to EFM.
| If the Report is Due to the Sponsor… | Then the Closeout Packet is Due to EFM… |
| 60 days or more after the Award End Date | 30 days prior to the Sponsor deadline (e.g., 60 days after the Award End Date if sponsor deadline is 90 days) |
| 14-59 days after the Award End Date | Sponsor deadline divided by 2 (e.g., 20 days after the Award End Date if the sponsor deadline is 40 days) |
| 14 days or fewer after the Award End Date | 7 days prior to the Sponsor deadline (e.g., 7 days prior to the Award End Date if the sponsor deadline is the Award End Date |
Certification of Final Figures:
PIs are required to certify to the accuracy of the final figures contained in the fund Closeout Packet. PIs may perform this certification electronically rather than by hard copy signature. E-mail certifications are acceptable.
As you continue to utilize the tool, please do not hesitate to contact your EFM representative with any questions or if you need any additional information.
Thank you,
Marcia Smith
Marcia L. Smith
Associate Vice Chancellor
Office of Research Administration