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<br />Section 6 ‒ Post Award Requirements | 2024 <br />Closeout Cont.Subawards will be closed after: <br />• Receiving any applicable Subrecipient Performance <br />Report indicating all approved work has been <br />completed, and all funds have been distributed; <br />• All funds have been requested and reimbursed, or <br />disencumbered; <br />• Completing a review to confirm the accuracy of <br />reported information; <br />• Reconciling actual costs to subawards, modifications and <br />payments; and <br />• Verifying the Subrecipient has submitted a final BSIR <br />showing all grant funds have been expended. <br />Records <br />Retention <br />The records retention period is three years from the date of <br />the Cal OES Grant Closeout letter, or until any pending <br />litigation, claim, or audit started before the expiration of the <br />three-year retention period has been resolved and final <br />action is taken. The Cal OES Grant Closeout Letter will notify <br />the Subrecipient of the start of the records retention period <br />for all programmatic and financial grant-related records. <br />Documents related to equipment purchased must be <br />retained for three years after it has been disposed, per <br />2 CFR 200.313. <br />For indirect cost rate proposals, cost allocation plans, or <br />other rate computation records, the start of the record <br />retention period is dependent on whether the proposal, <br />plan, or other computation is required to be submitted to the <br />federal government (or to the pass-through entity) for <br />negotiation purposes. See 2 C.F.R. § 200.334(f). <br />In order for any cost to be allowable, it must be adequately <br />documented per 2 C.F.R. § 200.403(g). <br />If the State Administrative Agency award remains open after <br />the Subrecipient’s submission of the final BSIR, Cal OES will <br />complete any additional BSIR reporting required under the <br />award on behalf of the Subrecipient. <br />Closed grants may still be monitored and audited. Failure to <br />maintain all grant records for the required retention period could <br />result in a reduction of grant funds, and an invoice to return costs <br />31