Close-Out Process

Close-Out Process. A. The close-out process encompasses a series of activities to verify that GCRF funds have been properly spent and that all GCRF administrative actions and all required work on the project has been completed in a timely and acceptable manner. B. The close-out process should begin when the following criteria have been met: (i.) All costs to be paid with program funds have been paid, including any unsettled third- party claims. (ii.) The recipient has fulfilled all its responsibilities under the grant agreement. This includes injection of all matching funds, all private investment, achieving all performance metrics and all job creation/retention commitments (where applicable). C. Close-out packages bearing the original signatures of the designated signatory officials (one original copy) and submission of the Certificate of Completion (two original copies) are due to MDA within 30 days after completion of the project.