1. Closeouts using the Projects & Awards Closeout Tool (PACT)

2. Welcome to PACT! Introductions: Name Role Department Length of service with Emory Logistics: Restrooms Breaks Laptops December 1, 2015

3. Learning Objectives As a result of participating in this Closeout course, you will: » Understand the overall Closeout process for Emory University » Understand the role of RAS and FGC in the Closeout process » Know how to complete the process associated with reconciling awards for Closeout December 1, 2015

4. Agenda Overview – Closeout – Roles and Responsibilities Process – Process Map – Closeout Timelines Demonstration Practice Routing and approvals December 1, 2015

5. What is Closeout? December 1, 2015

6. Closing Projects vs. Awards What is Project Closeout? Closing of individual projects, tied to an award, that have ended (award can still be ongoing) Expenses on ledger match FSR and/or Final Invoice Project SmartKey inactivation What is Award Closeout? Closing of an award that has ended, including all projects Expenses on ledger match FSR and/or Final Invoice Accounts Receivable - all cash for the award has been collected from the Sponsor All projects are ended and all SmartKeys inactivated Contract Billing Limit and Budgets are adjusted to FSR or Final Invoice December 1, 2015

7. RAS Roles and Responsibilities  Run the Emory Custom 15 Report  Populate PACT  Review, verify and clear: Deficits Refunds/Residuals Encumbrances Budget = Expenses  Complete the Closeout Checklist Add necessary documentation, including PACT, as attachments Send to appropriate FGC Team Helpdesk  Milestones: RAS units need to create & update the Closeout Milestone to “In Progress” in Compass once they begin the closeout process. December 1, 2015

8. FGC Roles and Responsibilities  Upon notification from RAS, create & update the Closeout Milestone to “In Progress” in Compass.  Adjust the award billing limit and budgets to match final reported expenditures  Review, verify and clear: Budget = Expenses Expenses = BLDs Bill/DEF Expenses = Revenue Cash Unbilled AR Billed AR Open AR  Inactivate project SmartKey(s) and notify RAS/Department.  Upload documents into Compass and the I: drive. PACT Closeout Checklist  Update Closeout Milestone to ‘Complete’. December 1, 2015

9. Process Map December 1, 2015 FGC’s Website: Ogca.emory.edu Training tab Training Documents PACT Training Materials

10. Closeout Timeline – Final FSR Required December 1, 2015 FSR Due Date 9/30/15 60 days 30 days 60 days Award End Date 6/30/15 Close Out Due Date 12/30/15 7/30/158/30/15 10/30/1511/30/15 RASFGC RAS Example: This timeline is based on a typical NIH Award. (90 Day Report Period)

11. Close Out Due Date 11/30/15 Close Out Due Date 11/30/15 FINAL Invoice Due Date 8/30/15 FINAL Invoice Due Date 8/30/15 15 days/15 days 30 days 60 days Award End Date 7/30/15 Award End Date 7/30/15 6/30/15 9/30/15 10/30/15 RAS FGC RAS & FGC RAS Closeout Timeline – Final Invoice Required December 1, 2015 Example: This timeline is based on a typical 30 day FINAL Invoice Due.

12. Closeout Timeline – No FSR/Final Invoice Required December 1, 2015 Example: This timeline is based on an award with no FSR/Final Invoice due. Award End Date 8/30/15 30 days60 days Close Out Due Date 11/30/15 9/30/15 10/30/15 FGC RAS

13. Where Are We Now? The ARRT has been completed, the FSR has been submitted. Now we should ask:  When are Final F&A adjustments made?  When are budgets adjusted?  Do my expenses and budgets have to match for project closeout?  Can I request SmartKey inactivation before the residual balances are transferred?  Is the AR zero if the sponsor is due a refund?  When does the closeout process happen?  When should you request SmartKey inactivation? December 1, 2015

14. DEMONSTRATION AND PRACTICE

15. Closeout - Overview Steps to Closeout: December 1, 2015 Step 2: Run the EUOGC015 Query in Compass Step 1: Accessing the Closeout Milestone Query Step 3: Import the EUOGC015 Query to PACT Step 4: Review & Analyze PACT, & make appropriate adjustments Step 5: Submit PACT to FGC Helpdesk

16. Closeout Milestone Query Run the Closeout Milestone Query using the Job Aid from FGC’s website: (www.ogca.emory. edu)www.ogca.emory. edu Training tab Training Documents PACT Training Materials December 1, 2015

17. Closeout Checklist Access the Closeout Checklist located on FGC’s website: (www.ogca.emory.edu)www.ogca.emory.edu Training tab Training Documents PACT Training Materials December 1, 2015

18. PACT – Job Aid Access the PACT Job Aid from FGC’s website: (www.ogca.emory.edu)www.ogca.emory.edu Training Tab Training Documents PACT Training Materials December 1, 2015

19. PACT Template December 1, 2015

20. Things to know… Where do I submit the Residual/Refund form? – The form is located in the SAM Kiosk, and should be submitted to the appropriate FGC Team Helpdesk. Where do I submit the closeout packet? – All closeout packets should be submitted to the appropriate FGC Team Helpdesk. Do I need to submit an Inactivate SmartKey form with the closeout packet? – No, you do not need to complete or submit the Inactivate SmartKey form. This will be completed by FGC once all columns in PACT are at $0.00. How will I know when the Award is closed? – FGC will notify RAS via email once the SmartKey as been inactivated. December 1, 2015

21. Practice Compass – www.compass-login.emory.edu www.compass-login.emory.edu Most up to date PACT template from FGC website (ogca.emory.edu) – Forms – PACT (Closeout) December 1, 2015

22. Useful Links  FGC Website – http://www.ogca.emory.edu http://www.ogca.emory.edu  OSP Website – http://www.osp.emory.edu http://www.osp.emory.edu  Emory University Policies (All Finance Related Policies) - http://policies.emory.edu http://policies.emory.edu  COMPASS Online Reference Guide – http://compass.emory.edu http://compass.emory.edu  FORMS http://www.ogca.emory.edu/forms/index.html >> Closeout http://www.ogca.emory.edu/forms/index.html  PACT  Closeout Checklist Form  FGC Team Helpdesk - http://www.ogca.emory.edu/about/departmentlist.html http://www.ogca.emory.edu/about/departmentlist.html December 1, 2015

23. Are there any questions? December 1, 2015