Close Out Your Federal Grant in a Timely and Comprehensive Manner
A thick new report about federal grant closeout just hit the desks of members of Congress. The Government Accountability Office, the investigative and audit arm of the lawmakers, took a hard look at why grant accounts with millions of dollars in undisbursed funds are awaiting closeout at the federal level.
Not surprisingly, the federal agencies that GAO asked for answers aren’t blaming themselves — they’re mostly finding fault with recipients and subrecipients! So, it’s fair to say that timely and effective closeout is likely to become the newest compliance “flavor of the month” in federal grants management.
The Office of Management and Budget had already hung a light on the need for timely closeout when it released its “Super Circular.” It told federal agencies to accomplish all actions necessary for closeout within one year after the end of a performance period. But this deadline is not a “hard stop,” and it’s clear that it hasn’t proved to be particularly realistic anyway.
As closeout is triggered by actions of recipients, you’re going to need to take timely and effective steps to conduct what will be a high-profile activity for the foreseeable future. Further, you’ll need to be fully aware of the responsibilities that will live on after closeout is accomplished.
This webinar is designed to help you close out your federal grant in a timely and comprehensive manner. You’ll learn:
- What will likely be the new closeout “pressure points”
- How OMB has ramped up the required procedures
- Details surrounding the routine and “not-so-routine” closeout tasks
- Which financial, performance and property reports are due and when
- How to settle up on obligations incurred and cash received
- What prerogatives exist for retaining or disposing of grant-acquired property
- How closeout of individual awards aligns with the single audit requirement
- The continuing records retention and access responsibilities that remain even after closeout
- How to charge costs of closeout activities after the performance period ends
- How best to handle subrecipient responsibilities
The heat is being turned up on grant closeout. Make sure you’re ready!
Prerequisites: Some knowledge of federal grant management and audit requirements is helpful
Advanced preparation: None
Attendees will receive presentation slides as well as access to background documents.
BOB LLOYD is a respected authority on policies and practices affecting the award, administration and oversight of federal grants, contracts and subawards. Mr. Lloyd has more than 40 years of experience in federal award implementation. Prior to starting his management consulting practice in Washington, D.C., in 1982, he served as the executive director of the Grants Management Advisory Service and held staff positions in two large federally funded organizations. Since then, he has been a consultant, trainer or advisor to award and audit units in 16 federal award-making departments and agencies, and to recipient and subrecipient organizations and their professional advisors located in all 50 states, the District of Columbia, several U.S. territories and 18 foreign countries. He is the principal author of A Practical Guide to Federal Grants Management — From Solicitation Through Audit and several other reference works on federal grants management and audits, and currently serves as contributing editor to Federal Grants News, published by Atlantic Information Services. He also is a Charter Life Member of the National Grants Management Association and served on its Board of Directors for five years.
Who Should Attend?
- Grant and contract managers
- Sponsored projects administrators
- Finance directors
- Accounting staff
- Grant project directors
- Principal investigators
- Internal auditors
- External auditors
How the Webinar Works
WHAT IS A WEBINAR?
All you need to access our Webinar is a phone line and access to the Internet – no downloads are required. Our Webinars allow you to view the speakers’ presentations on the Web as a slideshow, while listening to the audio presentation on the phone. The presentation is followed by a 30-minute Q&A with the speaker(s). You can invite all your colleagues to gather in a conference room with one computer and a speakerphone to share the experience.
MAC and PC COMPATIBLE
Our Webinars work equally well on PCs and Macs.
Register below (or call 800-521-4323 to register).
When you register, you will receive a confirmation by email from "David Barnisin, FFMA Conference Coordinator" with a toll-free number, password and Web link that you will use to connect to the Webinar.
There is no limit on the number of participants from your office, but the registration fee covers only one log-in. Additional log-ins require additional registration fees. For discount pricing on additional log-ins, please contact customer service at 800-521-4323.
- For your convenience, you will receive a copy of the Printed Materials in PDF format by email prior to the Webinar. These materials will include the same presentation you will view online during the Webinar.
- Listen to the Webinar as you follow along with your Printed Materials. You will be able to view the presentation online as you listen on the phone.
- The final segment of the Webinar will let you ask questions and get answers from the speakers.
Refund/Cancellation Policy: To cancel registration for an event and receive a full refund, customers must contact AIS’s customer service at 800-521-4323 no later than 48 hours prior to the scheduled start of the Webinar. Any cancellations received after log-in information and supplemental materials have been sent (48 hours prior to the start of the Webinar) will receive On-Demand Access to the Webinar recording or a credit valid for one year. The credit (the cost of the Webinar) may be applied toward the purchase of any other Webinar or recording.
Can't make it on June 2? Order the CD or On-Demand Recording and Printed Materials.
- Order a CD to get the full recording on CD and a printed copy of the materials mailed to you. The CDs are available approximately two weeks after the conference.
- Order an On-Demand Recording to receive an email with a link to the full recording as well as a PDF of the materials. On-Demand Recordings are available approximately a week after the conference and will remain available for one year after the date of the conference.
Remember: A copyright release in the Printed Materials will permit you to make photocopies for each person listening to the Webinar and/or recording.
This Webinar limits your time, expense and inconvenience. There is no need to leave your office or incur travel expenses, and your entire team will benefit at one single-participant price. For more information, or to register, call 800-521-4323 or register below.
The costs of webinars sponsored by Federal Fund Management Advisor™ are allowable charges to your federal grants and subgrants. The cost principles issued by OMB under its uniform guidance (and applicable to all types of awardees) state, “The cost of training and education for employee development is allowable” (2 CFR 200.472).