The Grant Closeout Checklist requires the PI to check off things that were required as per the agreement in order to officially close the grant. As PI, you will be asked to check and initial that all reports have been completed, that the cost share responsibilities have fulfilled, that all expenses were incurred within the project period that all expenses were allowable and allocable to the project, and any equipment purchases were allowable.
You will then need to sign and date the closeout document acknowledging that this account is closed and no additional charges will be incurred and all supporting documentation is in the file.
After this has taken place, we will then take the steps to check that the account has no outstanding charges or balances. Once all this is completed, the account will be closed and all final reports must be turned in within the timeframe agreed upon (as is stipulated in the proposal).
A sample checklist is available here and in the Forms and Checklists section of the website.