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Effectively Closing Out Your Federal Grant Award

Webinar • Wednesday, September 25, 2019  • 2:00-3:30 p.m. ET

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Webinar Details

Prerequisites: Some knowledge of federal grant management and audit requirements is helpful

Recommended Field of Study: Specialized Knowledge and Applications

Program Knowledge Level: Basic

Advanced Preparation: None

Timely and effective closeout of federal grants is always the “flavor of the month” in September — as it’s the last month in the federal fiscal year. But recent activities have ramped up the attention that grant closeout is getting.

A while back, Congress asked its investigative and audit unit, the Government Accountability Office, to take a hard look at why grant accounts with hundreds of millions of dollars in undisbursed funds were still awaiting closeout at the federal level. Not surprisingly, the federal agencies that GAO consulted for answers didn’t blame themselves — they mostly found fault with recipients and subrecipients!

The Office of Management and Budget hung a big light on the need for timely closeout when it released its “Super Circular” at 2 CFR 200. There they told federal agencies that they “should” accomplish all actions necessary for closeout within one year after the end of a performance period. Meanwhile, the Trump administration has begun to play “hard ball,” suggesting that it will seek to rescind appropriations because some agencies have not demonstrated need for the funds because of slow “burn rates.”

In light of all this activity, you’re going to need to take timely and effective steps to conduct what will be a high-profile activity for the foreseeable future. And you’ll need to be mindful of the responsibilities that live on after closeout is accomplished.

This webinar is designed to help you conduct effective closeout of your federal grant award. You’ll learn:

  • Your likely closeout pressure points
  • How OMB has ramped up the required closeout procedures
  • How to stay on top of 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
  • The prerogatives for retaining or disposing of grant-acquired property
  • How to apply exist instructions for closeout of awards to subrecipients
  • How closeout of individual awards will align with the single audit requirement
  • The continuing records retention and access responsibilities that remain after closeout 
  • How to charge costs of closeout activities after the performance period ends

The heat is being turned up on grant closeout. Attend this timely session to make sure you’re ready.

Who Should Attend?

  • Grant and contract managers
  • Sponsored projects administrators
  • Finance directors
  • Accounting staff
  • Property managers
  • Grant project directors
  • Principal investigators
  • Internal auditors
  • External auditors

Join Bob Lloyd, principal of Federal Fund Management Advisor and a respected authority on oversight of federal awards, for this timely analysis and practical guidance.

Hand-out Materials:

Attendees will receive presentation slides as well as access to background materials.

Allowable Charges

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).

Attend this Live Webinar and Earn up to 1.5 CPE Credits

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