Mississippi Administrative Code
Title 6 - Economic Development
Part 4 - Community Services
Chapter 4 - The Mississippi Development Infrastructure Program (DIP)
Rule 6-4-4.21 - Close-Out Process

Universal Citation: MS Code of Rules 6-4-4.21

Current through September 24, 2024

The close-out process encompasses a series of activities to verify that DIP Funds have been properly spent and that the applicant has completed the elements of its program in a timely and acceptable manner.

A. The grant recipient must submit all financial, performance, and other reports required as a condition of the grant.

B. Close-Out Packages bearing the original signatures of the designated signatory officials are due to MDA within 30 days after completion of the project including investment commitment and job creation. Failure to submit Close-Out Packages in a timely manner will result in the Community Services Division holding any and all pending Requests for Cash, Close-Outs and new project approvals for the grant recipient.

C. The grant recipient must retain all records for a period of five years from the date the State executes the Certificate of Completion.

D. The tasks involved in closing out a grant include:

(i) Resolution of all monitoring findings;

(ii) Submission of close-out report (one original copy);

(iii) Submission of Certificate of Completion (three originally signed copies);

E. The close-out process should begin when the following criteria have been met or will be met shortly:

(i) All costs to be paid with program funds have been paid, including any unsettled third-party claims, with the exception of close-out costs, such as the final administration costs.

(ii) The recipient has fulfilled all of its responsibilities under the Funding Agreement. This includes injection of all local cash and in-kind services, other State and/or Federal funding, all private investment, and job creation/retention (where applicable).

F. Delays in completing close-out can result in the denial of future requests with Community Services.

Miss. Code Ann. § 57-61-36 (Rev. 2014)

Disclaimer: These regulations may not be the most recent version. Mississippi may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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