Section 12.4 Closeout Procedures

Completing Your Grant: Section 12.4 Closeout Procedures

The grantee should prepare and submit the Close-Out Certification and Documentation form. (See Attachment 12-3: Closeout Certification Documentation.) The Authorized Official (AO) of the grantee must sign the signature page of the form. The grantee must also complete the Financial Management Component in CDFA’s Grants Management System (GMS).

There should only be two types of cash remaining in your account:

1) cash to pay unliquidated obligations, such as that last audit or final payment on any other third party contracts;

2) if you have more cash than that, write a check to CDFA for the unobligated amount and to any third party contractors (they must be paid before the Closeout Form is submitted).

If the balance on hand represents future audit or contractor costs, explain this on the comment lines. Please use the comment lines to explain any unusual financial issues and list all outstanding obligations and amounts. .

When CDFA approves your Closeout Certification Form, your grant administrator will send you a Closeout Agreement. The form you receive will be tailored to your specific grant status. The different forms vary primarily according to whether the grantee expects program income and/or if grantee will still have to submit an audit(s). When this arrives, read the agreement carefully because grantees may have a few continuing responsibilities after closeout. For example, with any expected program income that accrues, CDFA will want to hear from you before you spend it. If you built a senior citizens’ center, HUD regulations, and your security documents, will restrict its use being changed to a bowling alley or City Hall. (See Change of Use section later in this chapter.)

The grantee should sign the Close-out Agreement and return it to CDFA via mail or electronically. When received, CDFA will sign the agreement and return a fully signed copy. The grantee should put the signed copy with its grant files.