1 / 6

Effective Project Closeout Completion Workshop

Effective Project Closeout Completion Workshop. The Importance of Timely Project Closeouts. The Importance of Timely Project Closeouts. When is a federal project complete? Physical completion of the work Administrative Requirements Financial Completion.

ibanez
Download Presentation

Effective Project Closeout Completion Workshop

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Effective Project Closeout Completion Workshop The Importance of Timely Project Closeouts

  2. The Importance of Timely Project Closeouts • When is a federal project complete? • Physical completion of the work • Administrative Requirements • Financial Completion

  3. The Importance of Timely Project Closeouts • FAA Requirements • Projects must be closed out with in 3 years of the date the grant was issued and accepted • Must be submitted within 90 days of the completion of the work • Withholding of the final $10,000 or $50,000 of the grant until the closeout report is submitted

  4. The Importance of Timely Project Closeouts • What is the BENEFIT TO THE SPONSOR? • Unused Entitlement dollars can be released and used on another project • Expedite amendments • Avoid having to cover un-reimbursed costs for a long period of time

  5. The Importance of Timely Project Closeouts • Who prepares the Project Closeout Report? • Sponsor • Sponsor’s engineering consultant • Include this a separate work task in the consultant agreement

  6. The Importance of Timely Project Closeouts • MnDOT Aeronautics Role • Review Draft • Make sure costs match our records • Look for an explanation for extra costs or reasons final costs are less than requested • Look for explanation of differences in the final costs as they relate individual project work elements • Submit the final copy to the FAA

More Related