Grant Closeout Process

Payment Management System (PMS) supports awarding agencies to ensure the timely recovery of expired funds and the efficient closure of grants.

PMS identifies grants more than 90 and/or 120 days beyond their performance period end date with remaining balances, flags payment requests for expired funds, and holds them for agency review. This functionality helps agencies maintain proper financial oversight, recover expired funds, and close out grants in a timely manner, all while maintaining clear documentation for audit purposes.

Closeout Overview

Pre-Closeout (3 Months Before End Date)	End of Project Period	Closeout Period (90 and/or 120 Days After End Date)	Post-Closeout
Recipients begin preparing final financial forecasts. Recipients review all project expenses. Recipients plan for final adjustments.	Project activities conclude. Final day of authorized spending. PMS generates closeout notifications (see details below).	Recipients return any unspent funds. Recipients reconcile all financial expenditures. Recipients liquidate all remaining obligations. Recipients submit required final reports, including the Final Financial Report (FFR), Final Progress Report (FPR), and Final Property Report (TPPR), for grantor approval.	Recipients maintain all records for three years. Recipients manage any retained equipment according to federal rules.

Grant Closeout Notifications

Event Trigger	Next Steps
The final Federal Financial Report (FFR) has been approved.	Grantors and recipients should commence the post-closeout process. For recipients, this includes maintaining records, managing any retained equipment according to federal rules, and addressing any audit requirements. For grantors, this may include overseeing audits and corrections to the final FFR.