The Principal Investigator is the delegated individual with authority for the University of Alaska Anchorage to tell Accounts Payable when the final payment can be issued and the subaward should be closed.  Until the Principal Investigator verifies that all elements of the subaward have been satisified, UAA cannot call the subaward "a wrap".

SUBAWARD CLOSEOUT

The University PI should contact the subrecipient 90 days prior to the end of the period of performance to confirm the status of the project.  To successfully close out the subaward, the University PI must:

• follow up on late or missing reports or deliverables
• obtain the final invoice – clearly marked “FINAL”
• send a copy of the approved final invoice to Accounts Payable for processing (NOTE: Any outstanding issues with the subrecipient should be resolved prior to approving the final invoice for processing.)

The Grants and Contracts Office's close out process includes:

• review of the Subaward Release of Claim Form submitted by subrecipient
• review and processing of the approved final invoice for payment
• de-obligation of commitment for subrecipient agreement (if necessary) in financial system
• conduct audit of the subaward (if necessary)