Closeout is the process by which ACF determines that all applicable administrative actions and all required work of the federal award have been completed. The closeout process starts after the end of the period of performance listed on the Notice of Award (NoA) and ensures the recipient has met all financial, performance, and other reporting requirements.
Special notice: Effective 10/1/2023, HHS adopted closeout provisions at 2 CFR §200.344. (88 FR 63591 , September 15, 2023) This applies only to those programs that were required to follow 45 CFR §75.381.
Preparing for Award Closeout
To successfully closeout an award, a variety of reports and/or information may be required including:
- Final Federal Financial Report (FFR SF-425)
- Final Progress Report (PPR, or similar)
- Tangible Personal Property Report (SF-428)
- Accounting for any real property acquired with Federal funds (SF-429)
Please review the terms and conditions attached to your Notice of Award to confirm reports due upon closeout.
Handling Unobligated Balances
An unobligated balance occurs when there are fewer allowable costs than the awarded amount for a budget or project period. As part of the closeout process, a recipient must report any unobligated balance on the appropriate financial report. When there is an identified unobligated balance, the recipient should contact its Grants Management and Program Specialist for additional information on the application of the unobligated balance.
Record Retention and Accountability
All financial, property, and programmatic records must be retained in accordance with federal and programmatic requirements (e.g., 45 CFR §75.361 ). Closing out an award does not cancel requirements for property or financial accountability. Following closeout, recipients remain obligated to report on real property with a federal interest and return funds due as a result of later corrections, audit findings, or other transactions.