The performance period for this fiscal year award has ended and the grant has been closed.
The closeout of a grant does not affect FEMA’s and the Merchants Exchange’s right to disallow costs and recover funds on the basis of a later audit or other review, nor any party’s obligation to return any funds due as a result of later refunds, corrections or other transactions.
Please be reminded to maintain your records for a minimum of three (3) years following the Merchants Exchange’s consolidated closeout of the fiscal year direct grant. The direct grant closed out on 7/30/12. This record retention is in accordance with the guidance described in the “Columbia-Willamette-Snake River PSGP Policy & Procedures Manual.” FEMA, the Comptroller General of the United States, or any of their authorized representatives, shall have the right of access to any pertinent books, documents, papers, or other records of grantees and sub-grantees which are pertinent to the grant, in order to make audits, examinations, excerpts and transcripts.
Equipment Inventory Reports, if applicable, require annual submission by October 15, from the time of acquisition until all property/equipment purchased with federal grant funds has been disposed or appropriately depreciated below $5,000. Property and equipment records must be retained for 3 years from the date of final disposition or reporting.
Sub-grantees who expend $500,000 or greater in federal funds in a fiscal year are required to comply with the Single Audit Compliance regulation in OMB Circular A-133.
If you have questions about future funding opportunities contact Michael Moreno at email@example.com or call 503-220-2095.