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

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

WHO SHOULD ATTEND:

• 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