§ 200.344 - Closeout.

§ 200.344 Closeout.

(a) The Federal

awarding

agency or pass-through entity

will

must close out the Federal award when it determines that all

applicable

administrative actions and

all

required work of the Federal award have been completed

by the non-Federal entity. If the non-Federal entity

. When the recipient or subrecipient fails to complete the

requirements

necessary administrative actions or the required work for an award, the Federal

awarding

agency or pass-through entity

will proceed to close out the Federal award with

must proceed with closeout based on the information available. This section specifies the

actions the non-Federal entity and Federal awarding agency or pass-through entity must take to complete this process

administrative actions required at the end of the period of performance.

(

a

b)

The

A recipient must submit all reports (financial, performance, and other reports required by the Federal award) no later than 120 calendar days after the

end date

conclusion of the period of performance

, all

. A subrecipient must submit all reports (financial, performance, and other reports

as

required by

the terms and conditions of the Federal award. A subrecipient must submit

a subaward) to the pass-through entity

,

no later than 90 calendar days after the conclusion of the period of performance of the subaward (or an earlier date as agreed upon by the pass-through entity and subrecipient)

after the end date of the period of performance, all financial, performance, and other reports as required by the terms and conditions of the Federal award. The Federal awarding

. When justified, the Federal agency or pass-through entity may approve extensions

when requested and justified by the non-Federal entity, as applicable.

(b) Unless the Federal awarding agency or pass-through entity authorizes an extension, a non-Federal entity for the recipient or subrecipient. When the recipient does not have a final indirect cost rate covering the period of performance, a final financial report must still be submitted to fulfill the requirements of this section. The recipient must submit a revised final financial report when all applicable indirect cost rates have been finalized.

(c) The recipient must liquidate all financial obligations incurred under the Federal award no later than 120 calendar days after the

end date

conclusion of the period of performance

as specified in the terms and conditions of the Federal award.

(c) The Federal awarding . A subrecipient must liquidate all financial obligations incurred under a subaward no later than 90 calendar days after the conclusion of the period of performance of the subaward (or an earlier date as agreed upon by the pass-through entity and subrecipient). When justified, the Federal agency or pass-through entity may approve extensions for the recipient or subrecipient.

(d) The Federal agency or pass-through entity must

make prompt

not delay payments to the

non-Federal entity

recipient or subrecipient for costs meeting the requirements

in Subpart

of subpart E of this part

under the Federal award being closed out

.

(

d

e) The

non-Federal entity

recipient or subrecipient must promptly refund any

balances of

unobligated

cash

funds that the Federal

awarding

agency or pass-through entity paid

in advance or paid

and that are not authorized to be retained

by the non-Federal entity for use in other projects

. See OMB Circular A-129 and

see

§ 200.346

, for requirements regarding unreturned amounts that become delinquent debts

.

(

e) Consistent with the terms and conditions of the Federal award, the Federal awarding

f) The Federal agency or pass-through entity must make

a settlement for any upward or downward

all necessary adjustments to the Federal share of costs after closeout reports are received (for example, to reflect the disallowance of any costs or the deobligation of an unliquidated balance).

(

f

g) The

non-Federal entity

recipient or subrecipient must account for any

real and personal

property acquired with Federal funds or received from the Federal Government in accordance with §§ 200.310 through 200.316 and 200.330.

(

g) When a recipient or subrecipient completes all closeout requirements, the Federal awarding agency or pass-through entity must promptly complete all closeout actions for Federal awards. The Federal awarding

h) The Federal agency must make every effort to complete all closeout actions no later than one year after the end of the period of performance

unless otherwise directed by authorizing statutes

.

Closeout actions include Federal awarding agency actions in the grants management and payment systems.

(h) If the non-Federal entity does not submit all reports in accordance with this section and the terms and conditions of the Federal Award, the Federal awarding agency must proceed to close out with the information available within one year of the period of performance end dateIf the indirect cost rate has not been finalized and would delay closeout, the Federal agency is authorized to mutually agree with the recipient to close an award using the current or most recently negotiated rate. However, the recipient is not required to agree to a final rate for a Federal award for the purpose of prompt closeout.

(i) If the non-Federal entity recipient does not submit all reports in accordance with this section within one year of the period of performance end date, the Federal awarding comply with the requirements of this section, including submitting all final reports, the Federal agency must report the non-Federal entityrecipient's material failure to comply with the terms and conditions of the award with the OMB-designated integrity and performance system (currently FAPIIS). Federal awarding Federal award in SAM.gov. A Federal agency must use the Contractor Performance Assessment Reporting System (CPARS) to enter or amend information in SAM.gov. Federal agencies may also pursue other enforcement actions per as appropriate. See § 200.339.