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Grant Close-out

Grant Close-out. Andy Papen Compliance Manager. Close-Out Process. Begin when: All costs have been paid, with exception of close-out costs, such as the final audit or final 10% of administration costs, and The grantee has fulfilled all of its responsibilities under Grant Agreement.

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Grant Close-out

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  1. Grant Close-out Andy Papen Compliance Manager

  2. Close-Out Process • Begin when: • All costs have been paid, with exception of close-out costs, such as the final audit or final 10% of administration costs, and • The grantee has fulfilled all of its responsibilities under Grant Agreement

  3. Close-Out Process Involves • Resolution of all monitoring findings • Completion of close-out public hearings, submission of minutes, and affidavit of publication • Submission of close-out report, including updated Disclosure Report • Submission of Certificate of Completion (three originally signed copies) • Completion and submission of final audit

  4. Audit Requirements • Audit threshold is $500,000 of total federal expenditures for any one fiscal year. • Single Audit is required if grantee expends $500,000 or more in total federal assistance in a fiscal year. • If total federal assistance is over $500,000 and comes from one federal program only, a program audit may be performed. • If less than $500,000 of federal assistance is expended in one year, no Single Audit is required. However, DED will review the expenditures for that year.

  5. Audit Requirements • Submit completed audit and Data Collection Form to the Federal Audit Clearinghouse. Address and website are on page XI-5. • Do NOT send audit to CDBG unless we ask for it. We will ONLY review your audit from the Clearinghouse website.

  6. Two Types of Close-Outs

  7. Beneficiaries

  8. LMI reporting • Total beneficiaries • Total LMI beneficiaries • Report sub-categories of moderate, low and very-low: • Moderate – those with incomes between 80% and 50% of MHI • Low – between 50% and 30% • Very-low – below 30%

  9. Close-Out Report Includes • Close-out Report Cover Sheet, including public comments received during project (Page XI-6) • Form 2: Income Data for Program Beneficiaries (Page XI-7). Low/Mod total includes all LMI (cumulative) • Form 3: Population Group Data for Direct Beneficiaries (page XI-8). Total columns are TOTAL, includes those of Hispanic ethnicity.

  10. Close-Out Report Includes • Form 4: Population Group Data for Direct Beneficiary Applicants (page XI- 9). Use this for any activity for which beneficiaries have to apply. • Form 5: Population Group Data for Indirect Beneficiaries (page XI-10). • Totals for Forms 3,4 or 5 must = Total on Form 2.

  11. Close-Out Report Includes • Form 6: Project Accomplishments (page XI-11) • Form U: Was submitted in application showing proposed beneficiaries; will be completed again at closeout showing actual. (Page XI-12) • Form ED/1: Economic Development Close-out, page (X- 14). For ED projects only; use in place of Forms 2, 3, 4 and 5.

  12. Close-Out Report Includes • Section 3 Summary Report • This report mirrors one CDBG has to submit to HUD • Please include EVEN IF NO SECTION 3 HIRES WERE USED NOR ANY SECTION 3 CONTRACTS AWARDED • Provide explanation as to why there are no Section 3 hires or contracts.

  13. Closeout Report Includes • Certificates of Completion • These show final project costs, and unused funds, if any. • Also reports final amount of local matching funds. • Must include 3 certificates with original signature. • We will execute closeout by signing these, and returning one to grantee. • Executed certificate will show type of closeout and audits needed, if any.

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