North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 19 - RURAL ECONOMIC DEVELOPMENT › Subchapter L - NORTH CAROLINA COMMUNITY DEVELOPMENT BLOCK GRANT PROGRAM › Section .0900 - GRANT ADMINISTRATION › Section 19L .0913 - GRANT CLOSEOUTS

Current through Register Vol. 39, No. 2, July 15, 2024
(a) Initiation of
				  closeout. The Division will advise the recipient to initiate closeout
				  procedures when the Division determines, in consultation with the recipient,
				  that there are no impediments to closeout and that the following criteria have
				  been met or will be met shortly:
(1) All costs
				  to be paid with grant funds have been incurred with the exception of closeout
				  costs such as payment for the final audit and any unsettled third-party claims
				  against the recipient. Costs are incurred when goods and services are received
				  or contract work is performed. With respect to activities (such as
				  rehabilitation of privately owned properties) which are carried out by means of
				  revolving loan accounts, loan guarantee accounts, or similar mechanisms, costs
				  shall be considered as incurred at the time funds for such activities are drawn
				  from the Department and initially used for the purposes described in the
				  approved Community Development Program. The phrase "initially used for the
				  purposes described in the approved Community Development Program" means the
				  payment of such funds for work actually performed and is not intended to mean
				  the initial deposit(s) of funds into the revolving loan account, loan guarantee
				  account, or similar mechanism (such as loan or grant escrow account);
(2) The recipient shall submit to the
				  Division within 90 days after the date of completion of the grant all
				  financial, performance, and other reports required as a condition of the
				  grant;
(3) With respect to any
				  grant for which an Annual Performance Report is required pursuant to Rule
				  .1101, for purposes of the closeout, and has not been submitted or updated, the
				  failure of a recipient to submit or update as required will not preclude the
				  Division from effecting a grant closeout when such action is determined to be
				  in the best interest of the Division. The failure or refusal by a recipient to
				  comply with such requirement shall be taken into account in the performance
				  determination by the Division in reviewing any future grant applications from
				  the recipient. Any excess grant amount which is otherwise authorized to be
				  retained by the recipient shall be refunded to the Division in the event of a
				  recipient's failure to furnish the Annual Performance Report or update it as
				  required under this Rule;
(4) Other
				  responsibilities of the recipient under the grant agreement and closeout
				  agreement, applicable laws and regulations appear to have been carried out
				  satisfactorily, or the Division has no further interest in keeping the grant
				  agreement open for the purpose of securing performance. A final review of the
				  recipient's compliance with the grant agreement and any closeout agreement,
				  applicable laws and regulations will be made during the final audit or Division
				  review in lieu of the final audit pursuant to Paragraph (e) of this
				  Rule.