How to Close Out Your Federal Grant Award

Webinar • Thursday, September 24, 2020 • 2:00-3:30 p.m. ET

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Webinar Details

Prerequisites: Some knowledge of federal grant management and audit requirements is helpful

Recommended Field of Study: Specialized Knowledge and Applications

Program Knowledge Level: Basic

Advanced Preparation: None

The heat has been turned up on timely effective closeout of federal grants — again! The latest catalyst is the August 13 release of revised closeout policies in the Office of Management and Budget’s overhaul of its Uniform Grant Guidance (2 CFR 200).

Scathing reports to Congress from the Government Accountability Office documented hundreds of millions of dollars in obligated funds remaining in federal grant accounts for months and even years. So Congress enacted legislation to force the executive branch to corral and resolve the backlogs.

Now OMB has stepped in with changes to how performance and budget periods are defined and the timing of required closeout steps. OMB is telling federal agencies that they must “make every effort” to accomplish all actions necessary for closeout within a year after the end of a performance period. But it’s clear that this directive isn’t particularly realistic because of a variety of factors.

Because closeout is triggered by recipient and subrecipient actions, you can expect that federal agencies that are feeling the heat are going to be transferring some of that to you. And you’ll need to be fully aware of the responsibilities that will live on after closeout is accomplished.

This webinar is designed to help you take proactive and proper steps to conduct what will be a high profile activity for the foreseeable future. You’ll get answers to these questions and more:

  • What are the new closeout pressure points?
  • How has OMB changed the required closeout deadlines?
  • What are the routine and “not-so-routine” closeout tasks?
  • How can subrecipient closeout responsibilities best align with those of pass-through entities?
  • Which financial, performance and property reports are due and when?
  • How can a grantee best settle up on obligations incurred and cash received?
  • What prerogatives exist for retaining or disposing of grant-acquired property?
  • How will closeout of individual awards align with your single audit?
  • What continuing records retention and access responsibilities remain after closeout?
  • How can post-performance period costs for closeout activities be charged?

Join Bob Lloyd — principal of Federal Fund Management Advisor™ — for this timely session that will make you ready for proper grant closeouts.


  • Grant and contract managers
  • Sponsored projects administrators
  • Accounting staff
  • Program managers
  • Finance directors
  • Subgrant monitors
  • Internal auditors
  • External auditors

Hand-out Materials:

Attendees will receive presentation slides as well as access to background materials.

Allowable Charges

The costs of webinars sponsored by Federal Fund Management Advisor™ are allowable charges to your federal grants and subgrants. The cost principles issued by OMB under its uniform guidance (and applicable to all types of awardees) state, “The cost of training and education for employee development is allowable” (2 CFR 200.472).

Attend this Live Webinar and Earn up to 1.5 CPE Credits

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