When you reach the closeout process of your grant-funded program, it signifies that you are nearing the end of your project performance period. While every part of the grant life cycle is important, the closeout phase is essential to a successful program and future opportunities for funding. Every recipient of federal funds is required to perform certain closeout activities to administratively and fiscally close out a program with the federal funding agency.
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Closing down a project can be complicated, but planning for closeout long before the deadline can help support a smooth and complete process for your team. Consider these five principles from pre- to post-closeout:
Every recipient of federal funds is required to perform certain closeout activities.
Depending on the number of federal awards your agency received, it could be easy to miss the deadline, or worse, fail to properly close out the grant and risk being reported to the Federal Awardee Integrity Information System (FAPIIS). Noncompliance could put your organization in a position to return money to the federal government or jeopardize future funding opportunities, so be sure to:
The grant closeout is a critical piece in the life cycle of a grant and grants management. Many federal programs funded during the pandemic, including the CARES Act and the American Rescue Plan, are coming to an end and will require resources to complete the closeout properly.
P&N has extensive experience in auditing, grants administration, reconciliation, and closeout of FEMA Public Assistance, HUD CDBG-DR, and many other sources of grant funds. Our team members have a deep understanding of the closeout process as outlined in Title 2 U.S. Code of Federal Regulations Part 200: Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Contact us for assistance if you have questions about the grant closeout process.