La. Admin. Code tit. 40 § XVII-911

Current through Register Vol. 50, No. 12, December 20, 2024

Section XVII-911 - Closeout of Subgrant

A. Each subgrant must be closed after the end of the subgrant period or upon termination of a subgrant agreement. A written closeout procedure, including the due date for the closeout reports, will be issued by the Department of Labor. A subgrant will not be considered closed until all expenses encumbered prior to the end of the program year have been paid.

B. All expenses encumbered prior to the end of the fiscal year must be paid prior to the closeout of the subgrant.

C. The bank account shall be closed prior to the submission of the closeout package, and the final statement reconciled. Any excess funds in the bank shall be returned to the Department of Labor with the closeout package.

D. Failure to submit the closeout package on time will result in a suspension of funds for the current fiscal year until the complete package is received.

La. Admin. Code tit. 40, § XVII-911

Promulgated by the Department of Employment and Training, Office of Labor, LR 16:207 (March 1990), amended LR 17:357 (April 1991), amended by the Department of Labor, Office of Labor, LR 21:1341 (December 1995).

AUTHORITY NOTE: Promulgated in accordance with R.S. 23:66 et seq.