How to Closeout Your Federal Grant Award

Webinar • Thursday, September 13, 2018 • 2:00-3:30 p.m. ET

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$249.00 How to Closeout Your Federal Grant Award (OnDemand Recording)

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$249.00 How to Closeout Your Federal Grant Award (CD Only)
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

The heat is being turned up on timely effective closeout of federal grants. The recent catalyst is a scathing report to Congress from the Government Accountability Office that documented hundreds of millions of dollars in obligated funds remaining in federal grant accounts for months — and even years — awaiting grant closeouts and deobligation.

GAO hung the light on federal agencies where those closeouts aren’t happening in a timely manner. Those agencies aren’t blaming themselves; mostly, they are finding fault with recipients and subrecipients. The fallout: Timely and effective closeout has become the latest federal grants management “flavor of the month.”

The Office of Management and Budget has told federal agencies in its “Super Circular” that they “should” accomplish all actions necessary for closeout within a year after the end of a performance period, but it’s clear that the deadline is not always realistic because of a variety of factors. As closeout is triggered by recipient actions, you can expect that federal agencies that are feeling the heat are going to be transferring some of that heat to you.

You’re going to need to take proactive and proper steps to conduct what will be a high-profile activity for the foreseeable future. And you’ll need to be fully aware of the responsibilities that live on after closeout is accomplished. This webinar is designed to help you address timely and effective federal grant closeout.

You’ll get answers to these and similar questions:

  • What are the new closeout pressure points?
  • How has OMB ramped up the required closeout procedures?
  • What are the routine and “not-so-routine” closeout tasks?
  • Which financial, performance, and property reports are due and when?
  • How can a grantee best settle up on obligations incurred and cash received?
  • What prerogatives exist for retaining or disposing of grant-acquired property?
  • How will closeout of individual awards align with your single audit?
  • What continuing records retention and access responsibilities remain after closeout?
  • How can post-performance period costs for closeout activities be charged?

Join Bob Lloyd, principal of Federal Fund Management Advisor™, for this timely session that will prepare you to perform timely and effective grant closeouts.

Who Should Attend?

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

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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