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Effective date: October 13, 2017 - October 11, 2019
Recipients and subrecipients of DOL grant awards are responsible for developing a closeout process that will be used to close out their sub-awards and contract agreements. In accordance with the requirements of Uniform Guidance Section 200.343, this policy addresses the steps DWD-DET will take in order to close out a grant agreement. The WIOA closeout period refers to the 60-day period after a grant agreement has reached its term end date or its funding has been fully utilized.
The purpose of the financial reconciliation/closeout is to ensure allowable reportable costs and payments are equal.
To closeout out a grant effectively and to avoid cost overruns and deficits, DWD-DET has established the following procedures:
The closeout out packet will include:
The closeout of an award does not affect the following:
DWD-DET will not be liable for any costs the subrecipient failed to pay before the closeout date. Additionally, DWD-DET will not be liable for any late claims received by subrecipients. DWD-DET will not have funds available for those claims.
The subrecipient shall ensure that all program/grant liabilities are paid before the closeout date. No unpaid bill can be paid with the federal funds after closeout. Any such bills will have to be paid by the subrecipient from other non-federal funds.