[Code of Federal Regulations]
[Title 22, Volume 1]
[Revised as of April 1, 2001]
From the U.S. Government Printing Office via GPO Access
[CITE: 22CFR226.71]

[Page 966-967]
 
                       TITLE 22--FOREIGN RELATIONS
 
            CHAPTER II--AGENCY FOR INTERNATIONAL DEVELOPMENT
 
PART 226--ADMINISTRATION OF ASSISTANCE AWARDS TO U.S. NON-GOVERNMENTAL ORGANIZATIONS--Table of Contents
 
                 Subpart D--After-the-Award Requirements
 
Sec. 226.71  Closeout procedures.

    (a) Recipients shall submit, within 90 calendar days after the date 
of completion of the award, all financial, performance, and other 
reports as required by the terms and conditions of the

[[Page 967]]

award. USAID may approve extensions when requested by the recipient.
    (b) Unless USAID authorizes an extension, a recipient shall 
liquidate all obligations incurred under the award not later than 90 
calendar days after the funding period or the date of completion as 
specified in the terms and conditions of the award or in agency 
implementing instructions.
    (c) USAID will make prompt payments to a recipient for allowable 
reimbursable costs under the award being closed out.
    (d) The recipient shall promptly refund any balances of unobligated 
cash that USAID has advanced or paid and that is not authorized to be 
retained by the recipient for use in other projects. OMB Circular A-129 
governs unreturned amounts that become delinquent debts.
    (e) When authorized by the terms and conditions of the award, USAID 
shall make a settlement for any upward or downward adjustments to the 
Federal share of costs after closeout reports are received.
    (f) The recipient shall account for any real and personal property 
acquired with Federal funds or received from the Federal Government in 
accordance with Secs. 226.31 through 226.37.
    (g) In the event a final audit has not been performed prior to the 
closeout of an award, USAID retains the right to recover an appropriate 
amount after fully considering the recommendations on disallowed costs 
resulting from the final audit.