Grant Closeout
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A Grant Closeout is a set of requirements needed to be met before closing out a grant.
- AKA: Closeout.
- See: Grant, Federal Award, Federal Awarding Agency, Pass-throut Entity, Uniform Grant Guidance, Financial Assistance.
References
2016
- CDER Library v1.5.1.
- QUOTE: Closeout means the process by which the Federal awarding agency or pass-through entity determines that all applicable administrative actions and all required work of the Federal award have been completed and takes actions as described in §200.343 Closeout.
- http://www.samhsa.gov/grants/grants-management/grant-closeout
- QUOTE: Grant Closeout - Grantees must meet several requirements before closing out a grant in the final budget period of their project.
You must submit mandatory reports during the final budget period of your project. These include reports on:
- QUOTE: Grant Closeout - Grantees must meet several requirements before closing out a grant in the final budget period of their project.
- Property accountability
- Record retention
- Financial accountability
- Based on subsequent audits or other reviews, SAMHSA has the right to refuse and/or recover funds. It is your responsibility to return any funds due from refunds, corrections, or other transactions.
- https://grants.nih.gov/grants/policy/nihgps/html5/section_8/8.6_closeout.htm
- QUOTE: The requirement for timely closeout is generally a recipient responsibility. However, NIH may initiate unilateral closeout if a recipient does not provide timely accurate closeout reports or dose not respond timely to NIH requests to reconcile discrepancies in grant records. Failure to submit timely and accurate closeout documents may affect future funding to the organization.