Closeout Actions

Overview

GCA prepares a final reconciliation when preparing a final invoice, a final financial report, or closes an award that requires neither a final invoice nor final report.

The final reconciliation confirms several things, including verifying the Workday sponsored funding total, total expenses, and the difference. This difference is referred to as the award balance.

When the award balance is positive, GCA may reduce the Workday sponsored funding total to match the total expenses, and carryover the award balance, depending on the terms of the sponsored program award. These Workday actions are referred to as closeout actions.

Closeout Actions

Closeout of a Primary Award Line

Closeout actions are actions in Workday to de-obligate a positive award balance or transfer a positive award balance to a future budget period.

In Workday, a closeout action on a primary award line is a two-step process:

  1. GCA creates a budget amendment to update the Workday Award Plan
    1. For a de-obligation, the Amendment Type is “Decrease”.
    2. For a carryover, the Amendment Type is “Carryover”.
  2. GCA updates the Workday Line Amount (s)
    1. For a de-obligation, the Line Amount of the closing award line is reduced by the award balance.
    2. For a carryover, the Line Amount of the current primary award line is increased by the award balance.

GCA will complete a closeout action on a primary award line in Workday when:

  1. Carryover of unspent funds is automatically allowed by the sponsor or
  2. Carryover requires sponsor approval but per sponsor terms is required between budget periods (e.g. Cystic Fibrosis Foundation awards) or
  3. Unspent funds need to be carried over to the continuation award in Workday (applicable to federal grants)
    1. GCA will complete the closeout action when the award balance appears in the new federal document number in the Payment Management System (PMS)
  4. Cumulative financial reporting is required (e.g. most federal grants)

Note: GCA will complete a carryover action in Workday even when the continuation budget award line is in advance status.

GCA will not complete a closeout action on a primary award line in Workday when:

  1. Carryover is not automatic (e.g. most invoiceable awards)
    1. The original award authorizations will remain unchanged and GCA will not de-obligate funding until an OSP/GCA SAGE Modification Request with sponsor approval attached is received.

Closeout of Non-Primary Award Line

In addition to closeout actions taking place on primary award lines for a given budget period, closeout actions also take place on non-primary award lines.    

Possible closeout actions include:

  1. de-obligation to the award line and plan when a non-primary award line has a balance
    1. Balances are transferred to the primary award line for the budget period being reconciled.
  2. supplement to the Line Amount and Award Plan when the non-primary award line is in deficit but has received permission from the primary department that funds may be transferred to cover the deficit
    1. This funding is taken from the primary award line for the budget period being reconciled and is made available in the non-primary award line.