The Small Business Administration (SBA) staff has shared this update:
- SBA is still working on Closeout with unspent funds.
- We have issued repayment instructions to grantees with unspent funds, however, additional validation is needed before we may close out those files. If repayment has been sent via pay.gov, no additional action is needed at this time.
- Grantees who have completed Closeout have received notifications:
- Reminding grantees that they are in a document retention period
- If there are any questions, reach out to the Grants Management Specialist.
- SBA will start reviewing audit reports soon.
- If Audit Reports are past due, SBA will reissue action items to determine a compliance plan.
- If grantees are ready to submit a recently completed audit, they should reach out to their GMS request the Audit Action Item so that they may upload that document.
- Audit vs Monitoring
- Audit – conducted by a third party and is the responsibility of the grantee.
- Monitoring – an SBA-led process to review for quality assurance