Effective Project Closeout Completion Workshop The Importance of Timely Project Closeouts

The Importance of Timely Project Closeouts When is a federal project complete? Physical completion of the work Administrative Requirements Financial Completion

The Importance of Timely Project Closeouts FAA Requirements Projects must be closed out with in 3 years of the date the grant was issued and accepted Must be submitted within 90 days of the completion of the work Withholding of the final $10,000 or $50,000 of the grant until the closeout report is submitted

The Importance of Timely Project Closeouts What is the BENEFIT TO THE SPONSOR? Unused Entitlement dollars can be released and used on another project Expedite amendments Avoid having to cover un-reimbursed costs for a long period of time

The Importance of Timely Project Closeouts Who prepares the Project Closeout Report? Sponsor Sponsor’s engineering consultant Include this a separate work task in the consultant agreement

The Importance of Timely Project Closeouts MnDOT Aeronautics Role Review Draft Make sure costs match our records Look for an explanation for extra costs or reasons final costs are less than requested Look for explanation of differences in the final costs as they relate individual project work elements Submit the final copy to the FAA