[Code of Federal Regulations]

[Title 14, Volume 3]

[Revised as of January 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 14CFR152.213]



[Page 137-138]

 

                     TITLE 14--AERONAUTICS AND SPACE

 

CHAPTER I--FEDERAL AVIATION ADMINISTRATION, DEPARTMENT OF TRANSPORTATION 

                               (CONTINUED)

 

PART 152_AIRPORT AID PROGRAM--Table of Contents

 

                 Subpart C_Funding of Approved Projects

 

Sec. 152.213  Grant closeout requirements.



    (a) Program income. Sponsors or planning agencies that are units of 

local government shall return all interest earned on advances of grant-

in-aid funds to the Federal Government in accordance with a decision of 

the Comptroller General (42 Comp. Gen. 289). All other program income 

(gross income)



[[Page 138]]



earned by grant-supported activities during the grant period shall be 

retained by the sponsor and, if required by the grant agreement--

    (1) Be added to funds committed to the project by the FAA and the 

sponsor and used to further eligible program objectives; or

    (2) Be deducted from the total project cost for the purpose of 

determining the net costs on which the Federal share of costs will be 

based.

    (b) Financial reports. The sponsor or planning agency shall furnish, 

within 90 days after completion of all items in a grant, all reports, 

including financial performance reports, required as a condition of the 

grant.

    (c) Project completion. When the project for airport development or 

planning is completed in accordance with the grant agreement, the 

sponsor or planning agency may apply for payment for all incurred costs, 

as follows:

    (1) Airport development. When allowability of costs can be 

determined under Sec. 152.203, payment may be made to the sponsor if--

    (i) A final inspection of all work at the airport site has been made 

jointly by the appropriate FAA office and representatives of the sponsor 

and the contractor, unless that office agrees to a different procedure 

for final inspection; and

    (ii) The sponsor has furnished final ``as constructed'' plans, 

unless otherwise agreed to by the Administrator.

    (2) Airport planning. When the final planning report has been 

received and accepted by the FAA.

    (d) Property accounting reports: Airport development projects. The 

sponsor of an airport development project shall account for any property 

acquired with grant funds or received from the United States, in 

accordance with the provisions of Attachment N of Office of Management 

and Budget Circular A-102 (42 FR 45828).

    (e) Final determination of U.S. share. Based upon an audit or other 

information considered sufficient in lieu of an audit, the Administrator 

determines the total amount of the allowable project costs and makes 

settlement for any adjustments to the Federal share of costs.