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AFI Resource Guide Grant Closeout Overview

Published: September 27, 2017
Audience:
Assets for Independence (AFI)
Category:
Guidance, Policies, Procedures

AFI Grant Closeout Overview

In the 90 days following the end of an AFI grant project period, the grantee must complete closeout activities for that grant. This page provides a summary of closeout activities for AFI grants and answers to some common questions about grant closeout. Contact your Grants Management Specialist with any questions about closeout. To identify the project period of your AFI grant, refer to the most recent Notice of Award for the grant. This can be found in GrantSolutions.

NOTE: Federal regulations require that grantee organizations maintain grant records for three years from the date of submission of the final Federal Financial Report (SF-425), which is due no later than 90 days after the grant end date. Your organization may have additional records management requirements.

AFI Grant Closeout Activities

  • Prepare and submit the final AFI Performance Progress Report (PPR) and any past due PPRs, if applicable. The final AFI PPR must be a long form PPR, regardless of when the last day of the project period falls. For example, a grant that ends on March 31 must submit a final, long form PPR within 90 days, but there is no quarterly short form PPR due for that grant on April 30.
  • Prepare and submit the final SF-425 (Federal Financial Report) and any past due SF-425s, if applicable.
    For more information on both the AFI PPR and the SF-425, go to the AFI Reporting Requirements Overview.
  • Return any unused federal AFI grant funds.

Note: The Office of Grants Management may request that you prepare and submit the property forms (such as the SF-428, SF-428B, and SF-429) as part of grant closeout. AFI grants do not allow acquisition of property by grantees, so these forms should not be applicable to your AFI grant.

Questions and Answers on AFI Grant Closeout

Question: What is the last day an AFI participant may make an asset purchase?

Answer: Grantees may engage in project activities, including asset purchases, through the entire project period, plus the 90-day closeout period. When considering the timing of asset purchases in the closeout period, keep in mind that all closeout activities (including submission of the final reports) must be completed by the end of that 90-day period.


Question: When do all unspent federal AFI funds have to be returned?

Answer: No later than 90 days after the end of the grant project period.


Question: What should grantees do with unspent non-federal funds that remain after they return the federal portion?

Answer: Grantees may reallocate unspent non-federal funds according to any arrangements made with the sources of those funds after returning the corresponding unspent federal funds to ACF.


Question: Can grantees request payment of federal funds from PMS (AKA draw down) after the end of the grant budget period (AKA the original grant end date, five years from the award date)?

Answer: No. Federal law mandates that AFI funds expire five years after they are appropriated by Congress. Thus, any funds a grantee has not drawn down by the end of the grant budget period (AKA the original grant end date) are no longer available to the grantee. These funds are automatically returned to the federal Treasury. This is true whether or not a no-cost extension of the project period for a grant is approved. Grants have both a budget period and a project period, and the budget period for an AFI grant cannot be extended due to the expiration of the funds.

Last Reviewed: June 18, 2019