Section 651.406  Capital Assistance Grant Close-Out

a)         The participant shall notify the Department in writing immediately when all eligible capital project activities have been completed and all eligible capital expenses incurred.  The Department will then initiate final settlement of capital grant funds for the project, including the following:

1)         On-site inspection of the project by a Department representative, where appropriate;

2)         Final financial audit of the books and accounts by the State and settlement of any audit findings;

3)         Submission of a list of vehicles and equipment purchased, identified individually by serial number or other distinguishing designation, and such other comparable information regarding fixed facilities as the Department may require.

4)         Submission of a final requisition requesting payment of the balance of the approved Section 18 capital grant, or a check payable to the Department for the full amount of any overpayment of Section 18 capital grant funds; and

5)         Notification to the participant by the Department that final settlement has been reached.

b)         The participant shall retain, for three (3) years following final settlement, all project contract documents, financial records, and supporting documentation.