Project close-out will occur when all costs to be paid with grant funds have been incurred, when the last progress report has been submitted and no later than six months after the date for completion set forth in the grant agreement with the respective grantee, or at such other time as the agency may establish. At such time, the grantee must submit, in accordance with the agency's requirements, documentation of its grant disbursements and records, a certification of completion and final cost. Any cash advanced in excess of the final cost must be refunded to the agency.

Nothing in this or any other section will relieve the grantee of whatever continuing responsibility may remain to monitor and submit performance reports, even though project close-out has taken place.