§ 84.87 - Closeout procedures, subsequent adjustments and continuing responsibilities.

(a) Closeout procedures. (1) Recipients shall submit, within 90 calendar days after the date of completion of the award, all financial, performance, and other reports as required by the terms and conditions of the award. HUD may approve extensions when requested by the recipient.

(2) The recipient shall account for any real and personal property acquired with Federal funds or received from the Federal Government in accordance with §§84.83(b) through (g).

(b) Subsequent adjustments and continuing responsibilities. (1) The closeout of an award does not affect any of the following:

(i) Audit requirements in §84.26.

(ii) Property management requirements in §§84.83(b) through (g).

(iii) Records retention as required in §84.53.

(2) After closeout of an award, a relationship created under an award may be modified or ended in whole or in part with the consent of HUD and the recipient, provided the responsibilities of the recipient are considered and provisions made for continuing responsibilities of the recipient, as appropriate.