Closing a grant or contract is the final step in the life of a project. Once the grant or contract has expired, or all of the activity is complete, GCA can start the budget closing process.
GCA begins the closing process after the Final Action Date has passed, any final reporting and/or invoicing requirements have been met, and all sponsor payments have been received. The department may request an early closeout via GrantTracker.
Our goal is to close a budget within 120 days of its end date. However, closeout may be delayed by a variety of unresolved issues--e.g. an unresolved deficit or surplus balance, open encumbrances, incomplete cost share reporting, or open invoicing.