[Code of Federal Regulations]
[Title 20, Volume 2]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 20CFR435.71]

[Page 1129]
 
                      TITLE 20--EMPLOYEES' BENEFITS
 
               CHAPTER III--SOCIAL SECURITY ADMINISTRATION
 
  PART 435_UNIFORM ADMINISTRATIVE REQUIREMENTS FOR GRANTS AND AGREEMENTS 
 
                 Subpart D_After-the-Award Requirements
 
Sec. 435.71  Closeout procedures.

    (a) Recipients must 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. SSA may 
approve extensions when requested by the recipient.
    (b) Unless SSA authorizes an extension, a recipient must liquidate 
all obligations incurred under the award not later than 90 calendar days 
after the funding period or the date of completion as specified in the 
terms and conditions of the award or in agency implementing 
instructions.
    (c) SSA will make prompt payments to a recipient for allowable 
reimbursable costs under the award being closed out.
    (d) The recipient must promptly refund any balances of unobligated 
cash that SSA has advanced or paid and that is not authorized to be 
retained by the recipient for use in other projects. OMB Circular A-129 
governs unreturned amounts that become delinquent debts.
    (e) When authorized by the terms and conditions of the award, SSA 
will make a settlement for any upward or downward adjustments to the 
Federal share of costs after closeout reports are received.
    (f) The recipient must account for any real and personal property 
acquired with Federal funds or received from the Federal Government in 
accordance with Sec. Sec. 435.31 through 435.37.
    (g) In the event a final audit has not been performed prior to the 
closeout of an award, SSA will retain the right to recover an 
appropriate amount after fully considering the recommendations on 
disallowed costs resulting from the final audit.