A no-cost extension extends the project period beyond the original project end date with no additional funding. A no-cost extension may be requested when:
NCE doesn't have to be for a full 12 months, the requested NCE period should reflect the needs of the project.
Award closeout is the final reconciliation of the expenses and activities of a project. This includes reviewing project expenses and resolving open commitments, collecting documents from sub-recipients and contractors, and preparing required final reports and deliverables. It marks the end of the agreement between the sponsor and recipient OU. It is up to the PI to understand sponsor closeout requirements and timelines outlined in the award/contract terms and conditions.
Failure to submit closeout documents by the sponsor deadline can impact the collection of funds for the current project and receipt of future funding.
You should budget for the projected costs to complete the project during the NCE period.
Per the National Institute of Health, prior approval is not required for reductions in effort for senior/key personnel named in the NOA during a no-cost extension period. Exceptions to this include training awards and where specifically noted in funding terms and conditions.