§ 200.345 - Post-closeout adjustments and continuing responsibilities.

§ 200.345 Post-closeout adjustments and continuing responsibilities.

(a) The closeout of a the Federal award does not affect any of the following:

(1) The right of the Federal awarding agency or pass-through entity to disallow costs and recover funds on the basis of a later audit or other review. The However, the Federal awarding agency or pass-through entity must make any cost disallowance determination determinations to disallow costs and notify the non-Federal entity recipient or subrecipient within the record retention period.

(2) The requirement for the non-Federal entity to return any funds due recipient's or subrecipient's requirement to return funds or right to receive any remaining and available funds as a result of later refunds, corrections, or other transactions including final indirect cost rate adjustments (unless the Federal award in closed in accordance with § 200.344(h)), or other transactions.

(3) The ability of the Federal awarding agency or pass-through entity to make financial adjustments to a previously closed Federal award, such as resolving indirect cost payments and making final payments.

(4) Audit requirements in subpart F of this part.

(5) Property management and disposition requirements in §§ 200.310 through 200.316 of this subpart.

(6) Records retention as required in §§ 200.334 through 200.337 of this subpart.

(b) After the closeout of the Federal award, a relationship created under the Federal award may be modified or ended in whole or in part. This may only be done with the consent of the awarding Federal awarding agency or pass-through entity and the non-Federal entityrecipient or subrecipient, provided the responsibilities of the non-Federal entity recipient or subrecipient referred to in paragraph (a) of this section, including those for property management as applicable, are considered and provisions are made for continuing responsibilities of the non-Federal entityrecipient or subrecipient, as appropriate.