Illinois Administrative Code
Title 44 - GOVERNMENT CONTRACTS, GRANTMAKING, PROCUREMENT AND PROPERTY MANAGEMENT
Part 7000 - GRANT ACCOUNTABILITY AND TRANSPARENCY ACT
Subpart E - STATE POST-AWARD REQUIREMENTS
Section 7000.440 - Grant Closeout

1) The awardee must submit, no later than 60 calendar days after the end date of the period of performance, all financial, performance and other reports required by the Grant Agreement. The State agency may approve extensions when requested. Extensions shall only be issued under extraordinary circumstances that were not in the control of the awardee.

2) Unless the State agency authorizes an extension, an awardee must liquidate all obligations incurred under the grant not later than 60 calendar days after the end of the period of performance specified in the Grant Agreement.

3) The State agency shall make prompt payments to the awardee for allowable reimbursable costs under the grant.

4) Within 45 days after the end of the grant term, the awardee must refund any balances of unobligated cash that the agency paid in advance and that are not authorized to be retained by the awardee for use in other projects.

5) Consistent with the Grant Agreement, the State agency shall make a settlement for any upward or downward adjustments to the State and federal share of costs after closeout reports are received.

6) The awardee must account for any real and personal property acquired with State funds or received from the State.

7) The State agency shall complete all closeout actions for State-issued awards no later than one year after receipt and acceptance of all required final reports.