CLOSEOUTS

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CLOSEOUTS

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(No Transcript)
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Session Objectives
Understanding the close out process
Learning about close out requirements
Knowing roles responsibilities
Sharing best practices
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Topics of Discussion
Refund de-obligation
Record retention
Discussion Topics
Grant reconciliation
Close out process documents
Notification audit
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Overview of the Close Out Process

• Complete grant close out within 90 days of the
  end of the project period
• Seek a no-cost extension from the Office of
  Grants Management for activities that will extend
  beyond the project period end dates

Grantee Responsibility
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Grantee Responsibilities

• Complete the following steps
• Pay outstanding obligations
• Closeout sub-grants
• Submit close out documents
• Enter final FSR in Egrants
• Return un-obligated funds
• Ensure SF-269 and PSC-272 are equal

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CNCS Role

• CNCS takes the following steps
• Verifies completion of program financial
  requirements by grantee
• De-obligates unexpended funds
• Accounts for equipment supplies
• Reconciles balances award with HHS/PMS account

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Gathering Required Documentation

• Final FSR (SF-269)
• Equipment inventory form
• Residual supplies form
• Subgrantee certification
• (if applicable)

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Preparing Final FSR (SF-269)

• Covers entire project period (usually three
  years)
• Accounts for total funds awarded
• Verifies that FSR figures are supported by
  accounting system and documentation
• Ensure amount you have drawn from HHS equals
  amount disbursed on 272 an expended on FSR(269)

FSR Final Cumulative
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Preparing Final FSR (SF-269)

• Check accuracy of
• Grant Number
• Project period start end dates
• Authorized Federal Funds
• Match percentage

Grantee FSR Information
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Equipment Supply Inventory Forms

• Required for individual equipment with current
  market value of 5,000 or more, purchased with
  CNCS funds
• Mark Not Applicable or NA if no such
  equipment
• Both Forms must be completed and filed even if
  they report 0

Equipment Inventory Form and Residual Supply
Inventory Form
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Subgrantee Certification

• Required for grantees with subgrants
• Procedures for sub-grant close out same as for
  grantees closeout
• One certification to be filed covering all
  subgrants

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Finding Required Forms

• Available in PDF format at
• http//www.nationalservice.gov/for_organzations/tt
  a/forms.asp

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Reconciling the Grant
Final FSR
SF-272
Reconcile

• Be sure to include all grant amendments
• Reconcile FSR expenditures and SF-272 drawdowns,
  so that funds expended are equal to funds
  disbursed and advanced
• If these reports do not reflect the same
  expenditure amounts the Corporation cannot close
  your grant until you make adjustments

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HHS/Payment Management System Report

Date
XXXXXXXXXXXX ------------------------------------
--------------------------------------------------
------------------------------------------------
ACCT PIN EIN
Organization Name 1T74X
1T47 1234567890X1
ABC State Commission AGY GRANT
AUTHORIZED DISBURSED CHG-ADV
U 97SPFXX004 269, 486
269, 486 269,
486 ---------------------------------------------
--------------------------------------------------
---------------------------------------

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HHS/Payment Management System Report

Date
XXXXXXXXXXXX ------------------------------------
--------------------------------------------------
------------------------------------------------
ACCT PIN EIN
Organization Name 1T74X
1T47 1234567890X1
ABC State Commission AGY GRANT
AUTHORIZED DISBURSED CHG-ADV
U 97SPFXX004 269, 486
264, 486 269,
486 ---------------------------------------------
--------------------------------------------------
--------------------------------------- Grantee
needs to refund the 5,000 difference between
disbursements and drawdowns. The Corporation
deobligates the amount this reduces the
Authorized and CHG-ADV columns to 264,486.
(IS THIS TRUE OR FALSE?)

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Handling Local Match Deficiency

• Award is reduced by proportion of match that is
  below the required level
• Refund amount difference between original
• and reduced award when match deficiency
• exists
• Submit written request for waiver, including
• reasons for failure to meet match

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Refunding Unobligated Funds

• Review all obligations at closeout to ensure
  that sufficient
• funds have been drawn to cover the
  obligations
• Return unobligated grant funds at end of project
  period
• Accompany refund check with a letter stating that
  the money reflects a refund
• Send refund checks directly to
• HHS
• Division of Payment Management
• PO Box 6021
• Rockville, MD 20852

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Refunding Unobligated Funds

• Include the following information in the refund
  letter
• PMS account and subaccount numbers
• CNCS Grant Number to be credited
• Amount of interest included (if any)
• Send a copy of the refund letter check to the
  Office of Grants Management or Service Center
  with close out documents

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Deobligating Funds

• CNCS will deobligate any authorized grant funds
• not drawn down at the end of the project
  period
• Deobligation reduces the amount of authorized
• funds to equal the amounts disbursed and
  drawn down
• Grantees do not have access to deobligated
• funds

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Notification of Closeout

• Grantee receives written notice from CNCS or
  Service Center when a grant is officially closed
• Notification is sent when a grantee has met all
  programmatic and fiscal requirements

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Subsequent Audit

• CNCS retains right to conduct a subsequent audit
  or other review of a grantclose out does not
  change this right
• Notice of audit may extend the three year record
  retention requirement

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Retaining Records

• Retain all records for three years from
  submission of the final FSR
• Requirement is included in the CNCS Provisions

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Thats all there is, there isnt any more.
- Ethel Barrymore, (18791959) American actress