Grant closeout.

CFR · 2024-01-01 · US · Title 7

(a) (1) The grantee will immediately refund to Rural Development any balance of grant funds that are not committed for the payment of authorized expenses. (2) The grantee will furnish Form SF-269A, “Financial Status Report (short form)” to Rural Development within 90 days after the date of completion of the grant. All other financial, performance, and other reports required as a condition of the grant also will be completed. (3) After the grant closeout, Rural Development retains the right to recover any disallowed costs which are discovered as a result of the final audit. 7 CFR part 3550 will be used by Rural Development to recover any unauthorized expenditures. (4) The grantee will provide Rural Development an audit conforming to those requirements established in this part, including audits of self-help borrower accounts. (5) Upon request from the recipient, any allowable reimbursable cost not covered by previous payments shall be promptly paid by Rural Development. (b) (i) If the State Director determines that termination is not necessary, the grantee will be informed by letter along with the District Director. (ii) If the State Director determines that termination of the grant is appropriate, he/she will promptly inform the grantee by the use of exhibit B-3 of subpart B of part 1900 of this chapter. (2) (ii) The National Office will then obtain a comprehensive report on the matter from the State Office. This information will be considered together with any additional info

official document · source cfr-2024 · id 7:§ 1944.426