Grant Closeout Procedures Clause Samples

Grant Closeout Procedures. The closeout of a grant is the process by which the Trust determines that all applicable administrative actions and all work required under the grant agreement has been completed by the Grantee. This process includes the following: 1. The Grantee will submit a final report as provided in Attachment A, Section V using the form included in Attachment C-2. The Trust may permit extensions when requested in writing by the Grantee. 2. The Trust retains the right to request any additional information necessary to close out the grant agreement. 3. The Trust may require that an audit of the project be undertaken by an independent certified accountant. In that event, the cost of the audit shall be borne by the Grantee.

Grant Closeout Procedures. The Subrecipient’s obligation to the City shall not end until all close-out requirements are completed. Activities during this close-out period shall include, but are not limited to: making final payments, disposing of program assets (including the return of all unused materials, equipment, unspent cash advances, program income balances, and accounts receivable to the City), and determining the custodianship of records. Not withstanding the foregoing, the terms of this Agreement shall remain in effect during any period that the Subrecipient has control over CDBG funds, including program income.

Grant Closeout Procedures. The closeout of a grant is the process by which the Trust determines that all applicable administrative actions and all work required under the Grant Agreement has been completed by the Grantee. This process includes the following: 1. The Grantee will submit a final report as provided in Attachment A, Section V. The Trust may permit extensions when requested in writing by the Grantee. 2. Five percent of the total amount of the grant shall be retained by the Trust until the final report on the project has been accepted. 3. The Trust retains the right to request any additional information necessary to close out the Grant Agreement. 4. The Trust may require that an audit of the project be undertaken by an independent certified accountant