Objective: MIT will not close out a prime award until all subawards issued under the prime award have been closed out.
- Subawards must be processed for closeout and formally closed on a timely basis
- Subaward administrators should begin closeout actions immediately following the expiration of the subaward performance period
- Subawards will only be considered formally closed when all applicable closeout requirements have been accomplished
Learn more: Subawards, Research Subawards Team (RST) Policies and Procedures
In Summary
Subaward closeout requirements:
- Verification with MIT technical representative of the following:
- Deliverable items/services have been delivered/performed
- Inventions or discoveries report from MIT principal investigator (PI)
- Residual property – property remaining at subaward facility
- Items provided by subawardee
- Reports of patents, inventions, or discoveries
- Report of residual property
- Subcontractor’s release forms, where applicable
- Final certified cumulative invoice statement
- Closeout cost, "prospective price" and audit of subaward
- Closeout of level of effort, time, and material, and fixed-price subawards
- Interim subaward change order/amendment to deduct/add funds
- Subaward closeout processing
- Final invoice processing and payment
- Final amendment