Closeout Reporting Procedures (Effective Clause Samples

Closeout Reporting Procedures (Effective. March 2013)‌ The State Fiscal Year runs from July 1 through June 30. The Federal Fiscal Year runs from October 1 through September 30. A. Costs must be separated so that expenditures are charged to the fiscal year in which the obligation was incurred: B. The separation of costs must occur between the months of June and July to close out the state fiscal year, and between September and October for the Federal fiscal year. C. Reporting Requirements - A portion of the funding for this grant agreement is from a federal award which requires a close out (separation of expenditures) as of September 30. 1) This means documentation for expenditures incurred on or prior to September 30 must be submitted separately from documentation for expenditures incurred on or after October 1. 2) The final documentation reporting expenditures incurred on or prior to September 30 shall be submitted to the Department by November 15.