Elements and Performance Criteria
- Close out grant at end of funding cycle
- Follow all organisation procedures in relation to closeout and in line with concepts and principles of aid effectiveness and community development
- Disburse all outstanding payments to vendors, taxation agencies and staff
- Clear all outstanding advances and expense reports
- Meet all donor requirements, including asset disposal, final financial reporting and record retention
- Provide all final financial reports to key internal stakeholders
- Remit all unspent funds back to the donor
- Close out project or program
- Follow all organisation procedures in relation to closeout
- Disburse all outstanding payments to vendors, taxation agencies and staff
- Clear all outstanding advances and expense reports
- Meet all donor requirements, including asset disposal, final financial reporting and record retention
- Provide all final financial reports to key internal stakeholders
- Remit all unspent funds back to the donor
- Close all bank accounts, receive and review final statements
- Track all assets disposed or transferred to other projects in accordance with donor and organisation requirements
- Remove all financial documents to a secure location
- Close out at end of financial year
- Complete reconciliation with donor funding to identify and carry forward funding to the new fiscal period
- Provide all required year-end financial reports to internal and external stakeholders in appropriate formats, which include all relevant data, and in a timely manner
- Record properly valuations of gift in-kind balances