Closeout

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Closeout

Please use the Construction Grant Desk Monitoring List and the Financial Management Form 1: Federal Cash Control to answer the questions in this activity.

Instructions:

Use the Case Study to determine the answers in this section. Please read the attached sample bid ads for this section of the case study.

Please use all resources available to you as a certified GA.

Contact Information: This exam requires a Google Email Address. When prompted, please add the google email to the first area of this form.
Entering Responses: This form cannot be saved. If needed, please write notes down on a separate sheet of paper. You will not be permitted to retake this portion of the exam once it has been submitted.
Grading: You must receive a cumulative score of 75% on the exam to become certified. If you receive less than 75% on this section, it will only effect your total score. Essay questions will not have grades.
Resources: https://www.in.gov/ocra/cdbg/cdbg-resources/

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1. There are 5 required Financial Management Forms turned in at Closeout. Which of the following is NOT one of the 5 required forms? *

1 point

Local Match Ledger

Property Inventory Form

Wage Determination Lock-In Notice

Federal Cash Control Register

2. (True or False) Once you have submitted your Closeout Forms you may still submit claims and drawdown funds for the project. *

1 point

True

False

3. While closing out your grant, you realize that the grantee submitted a claim, received a disbursement of funds and then held onto the funds for 2-months before disbursing them to the project’s contractors. This is a violation of the 5-Day Rule regarding federal funds on HUD projects. What documentation should you submit with your closeout materials to resolve this issue? *

1 point

Nothing. There is no 5-Day Rule.

Submit a detailed letter from the Town admitting to the error and acknowledging the issue along with a letter from the bank ensuring the amount of interest accrued was less than $100.00.

Submit a check to the state (OCRA) paying back all grant funds that were held for more than 5 days.

Submit a new claim drawing down the funds again and then disburse them within 5 days.

4. If your project had a Change Order during the implementation phase, you may need to submit a copy of that change order with a written explanation from the Engineer. What percentage of the original contract must the change order be greater than for this documentation to be required? *

1 point

10%

15%

20%

5. Based upon the supplied Federal Cash Control Ledger, how many Warrants (checks) should be submitted with your closeout materials to document the disbursement of your projects CDBG Funds. *

1 point

None

6. Based upon the supplied Federal Cash Control Register, did this project have a violation of the 5-Day Federal Funds Rule? *

1 point

Yes

There is no such thing as a 5-Day Federal Funds Rule.

7. Which of the following circumstances could require you to submit Intake Documentation at Closeout for your project? *

1 point

You never submit Intake Documentation.

When your projects National Objective is Limited Clientele.

When your project is a planning grant.

When your project involved the purchase of an Easement or Parcel.

8. (True or False) Once your project is completely closed out, you should retain all of your project documentation for a minimum of 5 years. *

1 point

True

False

9. What documentation should be submitted at closeout if a contractor on your project employed an Apprentice. *

1 point

A written note from the contractor.

A copy of the Apprentice’s Driver’s Licenses.

A proof on enrollment in an appropriate Apprenticeship Program.

Nothing.

A copy of your responses will be emailed to the address you provided.

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