Closing Out an Award

Closing out an award is a shared responsibility of the PI, DLCI, and VPF, with RAS advising only in select cases. Follow sponsor requirements and MIT processes when closing out an award.

Closeout Process

  1. To begin closing out an award, DLCIs email wbscloseout@mit.edu.
  2. Once the request is received, the VPF Sponsored Accounting team follows the WBS closeout process, notifying the DLCIs of required actions.
  3. VPF Sponsored Accounting team notifies RAS when accounts can be closed.

Reporting and Documents

Some types of reports are prepared with or submitted by central Institute administrative offices. However, the PI ultimately has responsibility for accurate submission by sponsor deadline.

DLCIs and PIs should review and reconcile closeout documents from the sponsor and invoices and final reports from subawards, then route to VPF Sponsored Accounting, TLO, or the Property Office (not the RAS CA) for completion. (If a document requires RAS sign-off after completion, those offices will forward to the appropriate RAS contact.)

Final technical reports should be submitted by PI to the sponsor with copy to RAS (rasaward@mit.edu).

Unexpended Funds

Award terms often state what must be done with unexpended funding (and accrued interest, if applicable) at closeout. If you have questions, your RAS CA can verify the terms of the award. If funds do not have to be returned to the sponsor, VPF uses the fixed price closeout procedure. 

Foundations may have specific requirements for unexpended funds. 

After Closeout

Retain records according to the terms of the award and MIT policy:

  • Financial records: Retained by VPF, if uploaded to VPF systems.
  • Scientific data/technical records: Retained by PI according to sponsor policies. 

If project-related expenses are incurred after closeout, contact the RAS Research Finance team (ras-finance@mit.edu).

If a no-cost extension is granted after closeout, contact your RAS CA as soon as possible to reopen accounts. However, no-cost extensions are usually granted before the award ends.

Updated December 15, 2025