4 FAH-3 H-680
CLOSEOUT
(CT:FMP-90; 07-30-2015)
(Office of Origin: CGFS/FPRA/FAFM)
4 FAH-3 H-681 GENERAL
(CT:FMP-90; 07-30-2015)
Federal award closeout, as prescribed in 2 CFR 200.343, Closeout, is the process by which the
Department determines that all applicable administrative actions and all
required work of the grant have been completed. Federal
awards will be closed upon receipt of the final financial, performance, and
other reports as required by the award terms and conditions, and after
determination that any other administrative requirements in the award have been met. In the event a final audit
has not been performed prior to the closeout of the award, the bureau reserves the right to recover
appropriate amounts after fully considering the recommendations on disallowed
costs resulting from the final audit.
4 FAH-3 H-682 PROCEDURES
(CT:FMP-90; 07-30-2015)
a. The bureaus must require
the recipient to submit, no later than 90
calendar days after the period of performance, all financial, performance and
other reports as required by the terms and conditions of the award. The
Department may approve extensions when requested by the recipient.
b. Unless the bureau authorizes an extension, a
recipient must liquidate all obligations
incurred under the award no later than 90
calendar days after the funding period or the date of completion.
c. The bureau must make
prompt payments to a recipient for allowable reimbursable costs under the award
being closed out.
d. The bureau must require
the recipient to promptly refund any balances of unobligated cash that the
Bureau has advanced or paid that is not authorized to be retained by the
recipient for use in other projects.
e. Prior to acceptance of the final financial report,
all discrepancies must be reconciled and a
copy must be forwarded to the program
office for review or comment.
f. The bureau must ensure
the recipient has met proposed or required cost sharing.
g. The bureau must deobligate
the unliquidated balance of funds from the accounting records.
h. The bureau must provide
the recipient with proper instructions on the disposition of any equipment or
furniture acquired with U.S. Government funds as stipulated in 2 CFR 200.313, Equipment.
i. Additionally, when closing a PMS grant the
following action must be taken:
(1) Request PMS balance printout;
(2) Compare final amount expended/remaining balance on
financial report with PMS print-out (These amounts must equal exactly (no rounding).
If these amounts do not equal, instruct the grantee to either return excess
funds or make a final draw down as necessary.);
and
(3) Compare the amount the grantee has drawn against
what it has reported spending on the most recent Form SF-425, Federal Financial Report (If
these figures do not equal one another, the grantee will need to be contacted
and instructed to make the necessary adjustments.)
4 FAH-3 H-683 THROUGH H-689 UNASSIGNED