Federal Grant Closeout Update - It's All Over but the Shouting

Webinar • Tuesday, July 16, 2024 • 2:00-3:30 p.m. ET

This webinar is hosted in partnership with Federal Fund Management Advisor

As the days remaining in a federal grant performance period dwindle, it might be tempting to think that there isn’t much left for a recipient or subrecipient to do. But a closer look at the recently revised OMB uniform guidance at 2 CFR 200 reveals that some steps have to occur before the performance period ends, others must fit into a tightly defined time window immediately afterward, and still others involve a continuing accountability that will live on even after the closeout is official.

The new rules even address the possibility that a closed award might need to be reopened. And OMB has finally issued a welcome clarification on the allowability of costs involved in performing all of your closeout duties. 

For several years, Congress has been scrutinizing grant closeout because some federal grantmaking agencies have been lax in taking timely actions. Don’t give your grantors any reason to blame your organization for their problem. This webinar will help you ensure your organization can properly handle all of its many closeout duties and accomplish thorough, timely and compliant closeouts.

We’ll cover:

  • Incurring final allocable expenditures
  • Determining remaining fund balances
  • Settling claims and cash
  • Preparing final financial and performance reports
  • Inventorying, retaining, and disposing of grant-acquired property
  • Assuring single audit coverage
  • Understanding awarding agency audit rights
  • Adjustment, disallowance, and recoupment procedures
  • Post closeout disputes
  • Records retention and access


  • Grant and contract managers
  • Sponsored projects administrators
  • Facility and property managers
  • Grant project directors
  • Executives
  • Finance directors
  • Legal counsels
  • Accounting staff
  • Internal auditors
  • External auditors


Bob Lloyd Bob Lloyd

BOB LLOYD is a respected authority on policies and practices affecting the award, administration and oversight of federal grants, contracts and subawards. Mr. Lloyd has nearly 40 years of experience in federal award implementation. Prior to starting his management consulting practice in Washington, D.C., in 1982, he served as the executive director of the Grants Management Advisory Service and held staff positions in two large federally funded organizations. Since then, he has been a consultant, trainer or advisor to award and audit units in sixteen federal award-making departments and agencies, and to recipient and subrecipient organizations and their professional advisors located in all 50 states, the District of Columbia, several U.S. territories and 18 foreign countries. He is the principal author of A Guide to OMB Grant Reform and several other reference works on federal grants management and audits, and currently serves as contributing editor to Federal Grants News, published by Thompson Grants. He also is a Charter Life Member of the National Grants Management Association and served on its Board of Directors for five years. Contact Bob Lloyd at consultlloyd@aol.com or 864-235-8680.