[Code of Federal Regulations]

[Title 32, Volume 1]

[Revised as of July 1, 2006]

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

[CITE: 32CFR34.61]



[Page 221-222]

 

                       TITLE 32--NATIONAL DEFENSE

 

              CHAPTER I--OFFICE OF THE SECRETARY OF DEFENSE

 

PART 34_ADMINISTRATIVE REQUIREMENTS FOR GRANTS AND AGREEMENTS WITH 

FOR-PROFIT ORGANIZATIONS--Table of Contents

 

                 Subpart C_After-the-Award Requirements

 

Sec.  34.61  Closeout procedures.



    (a) The cognizant grants officer shall, at least six months prior to 

the expiration date of the award, contact the recipient to establish:

    (1) All steps needed to close out the award, including submission of 

financial and performance reports, liquidation of obligations, and 

decisions on property disposition.

    (2) A schedule for completing those steps.

    (b) The following provisions shall apply to the closeout:

    (1) The responsible grants officer and payment office shall expedite 

completion of steps needed to close out awards and make prompt, final 

payments to a recipient for allowable reimbursable costs under the award 

being closed out.

    (2) The recipient shall promptly refund any unobligated balances of 

cash that the DoD Component has advanced or paid and that is not 

authorized to be retained by the recipient for use in other projects. 

For unreturned amounts that become delinquent debts, see 32 CFR 22.820.

    (3) When authorized by the terms and conditions of the award, the 

grants officer shall make a settlement for any upward or downward 

adjustments to the Federal share of costs after closeout reports are 

received.



[[Page 222]]



    (4) The recipient shall account for any real property and personal 

property acquired with Federal funds or received from the Federal 

Government in accordance with Sec. Sec.  34.21 through 34.25.

    (5) If a final audit is required and has not been performed prior to 

the closeout of an award, the DoD Component shall retain the right to 

recover an appropriate amount after fully considering the 

recommendations on disallowed costs resulting from the final audit.