property and equipment he retention period for real ⚫nd equipment records starts late of the disposition or re* or transfer at the direction arding agency. ords for income transactions t or subgrant support. In some antees must report income → period of grant support. ere is such a requirement, the period for the records perto the earning of the income om the end of the grantee's fisin which the income is earned. lirect cost rate proposals, cost alplans, etc. This paragraph apthe following types of docuand their supporting records: cost rate computations or procost allocation plans, and any accounting computations of e at which a particular group of s chargeable (such as computer chargeback rates or composite benefit rates). f submitted for negotiation. If the al, plan, or other computation is ed to be submitted to the Federal nment (or to the grantee) to form asis for negotiation of the rate, the 3-year retention period for its rting records starts from the date h submission. -If not submitted for negotiation. If proposal, plan, or other computais not required to be submitted to Federal Government (or to the tee) for negotiation purposes, then 3-year retention period for the pro1 plan, or computation and its suping records starts from end of the al year (or other accounting period) ered by the proposal, plan, or other putation. 1) Substitution of microfilm. Copies de by microfilming, photocopying, similar methods may be substituted the original records. (e) Access to records (1) Records of antees and subgrantees. The awarding rency and the Comptroller General of le United States, or any of their auhorized representatives, shall have the ight of access to any pertinent books, ocuments, papers, or other records of rantees and subgrantees which are pertinent to the grant, in order to (1) Temporarily withhold cash payments pending correction of the deficiency by the grantee or subgrantee or more severe enforcement action by the awarding agency, (2) Disallow (that is, deny both use of funds and matching credit for) all or part of the cost of the activity or action not in compliance, (3) Wholly or partly suspend or terminate the current award for the grantee's or subgrantee's program, (4) Withhold further awards for the program, or (5) Take other remedies that may be legally available. (b) Hearings, appeals. In taking an enforcement action, the awarding agency will provide the grantee or subgrantee an opportunity for such hearing, appeal, or other administrative proceeding to which the grantee or subgrantee is entitled under any statute or regulation applicable to the action involved. (c) Effects of suspension and termination. Costs of grantee or subgrantee resulting from obligations incurred by the grantee or subgrantee during a suspension or after termination of an award are not allowable unless the awarding agency expressly authorizes them in the notice of suspension or termination or subsequently. Other grant ee or subgrantee costs during suspension or after termination which are necessary and not reasonably avoidable are allowable if: (1) The costs result from obligations which were properly incurred by the grantee or subgrantee before the effective date of suspension or termination, are not in anticipation of it, and, in the of a termination, case noncancellable, and, are (2) The costs would be allowable if the award were not suspended or expired normally at the end of the funding period in which the termination takes effect. (d) Relationship to debarment and suspension. The enforcement remedies identified in this section, including suspension and termination, do not preclude grantee or subgrantee from being subject to "Debarment and Suspension" under E.O. 12549 (see §143.35). § 143.44 Termination for convenience. Except as provided in §143.43 awards may be terminated in whole or in part only as follows: (a) By the awarding agency with the consent of the grantee or subgrantee in which case the two parties shall agree upon the termination conditions, including the effective date and in the case of partial termination, the portion to be terminated, or (b) By the grantee or subgrantee upon written notification to the awarding agency, setting forth the reasons for such termination, the effective date, and in the case of partial termination, the portion to be terminated. However, if, in the case of a partial termination, the awarding agency determines that the remaining portion of the award will not accomplish the purposes for which the award was made, the awarding agency may terminate the award in its entirety under either §143.43 or paragraph (a) of this section. Subpart D-After-The-Grant $143.50 Closeout. (a) General. The Federal agency will close out the award when it determines that all Hicable administrative acrequired work of the ompleted. tion 13 CFR Ch. I (1-1-95 Edition) (b) Reports. Within 90 days after the expiration or termination of the grant, the grantee must submit all financial, performance, and other reports reUpon request by the grantee, Federal quired as a condition of the grant. agencies may extend this timeframe. These may include but are not limited to: (1) Final performance or progress report. (2) Financial Status Report (SF 269) of Outlay Report and Request for Reimbursement for Construction Programs (SF-271) (as applicable). (3) Final request for payment (SF-270) (if applicable). (4) Invention disclosure (if applicable). (5) Federally-owned property report: In accordance with §143.32(f), a grantee ally owned property (as distinct from must submit an inventory of all feder property acquired with grant funds) for which it is accountable and request disposition instructions from the Federal agency of property no longer needed. (c) Cost adjustment. The Federal ager cy will, within 90 days after receipt of reports in paragraph (b) of this section, make upward or downward adjustments to the allowable costs. (d) Cash adjustments. (1) The Federal agency will make prompt payment to the grantee for allowable reimbursable costs. (2) The grantee must immediately refund to the Federal agency any balance of unobligated (unencumbered) cash advanced that is not authorized to be retained for use on other grants. § 143.51 Later disallowances and adjustments. The closeout of a grant does not affect: (a) The Federal agency's right to disallow costs and recover funds on the basis of a later audit or other review; (b) The grantee's obligation to return any funds due as a result of later refunds, corrections, or other transactions; (c) Records retention as required in § 143.42; (d) Property management requirements in §§ 143.31 and 143.32; and (e) Audit requirements in § 143.26. $143.52 Collection of amounts due. (a) Any funds paid to a grantee in excess of the amount to which the grantee is finally determined to be entitled under the terms of the award constitute a debt to the Federal Government. If not paid within a reasonable period after demand, the Federal agency may reduce the debt by: (1) Making an adminstrative offset against other requests for reimbursements, (2) Withholding advance payments otherwise due to the grantee, or (3) Other action permitted by law. (b) Except where otherwise provided by statutes or regulations, the Federal agency will charge interest on an overdue debt in accordance with the Federal Claims Collection Standards (4 CFR Ch. II). The date from which interest is computed is not extended by litigation or the filing of any form of appeal. Subpart E-Entitlements (Reserved) PART 144-DISCOUNTED PREPAYMENT OF DISASTER HOME LOANS Sec. 144.1 General information. 144.3 Applicability and eligibility. AUTHORITY: Sec. 5(b)(6) of the Small Business Act, 15 U.S.C. 634(b)(6). SOURCE: 52 FR 31527, Aug. 20, 1987, unless otherwise noted. $144.1 General information. Under this one-time program for Fiscal Year 1987, the SBA may provide a discount for prepayment in full of an outstanding disaster home loan to those borrowers that meet the conditions established in this subpart. $144.3 Applicability and eligibility. This discount program is applicable to all disaster home loans (see 13 CFR $123.1 through 123.29 for details) which have been fully disbursed and outstanding for a period of 12 months at the time of offer have at least 12 months remaining, and which are in a current status. A loan in Current Status as defined for this regulation is one which is paying according to the current payment schedule or the borrower is late on one payment. In no case will the offer be made to a borrower whose loan is more than 31 days past due. $144.5 Proposal for prepayment. (a) The SBA will calculate the appropriate discount and make a written offer to each eligible disaster home loan borrower. The offer will be mailed by the SBA to the address now used for the monthly billing of the loan. (b) Upon issuance by SBA of the proposal for discounted prepayment, the borrower will have a specified period of time to respond to the offer. A timely acceptance will be signified by payment of the amount identified in the offer by the deadline stated in the offer. Late payment or nonresponse will be considered a decline of the offer. (c) The issue date will be the date on which SBA mails the offer to the borrower. The deadline will be a date specified in the offer. (d) A borrower who feels he/she should have been contacted but did not receive an offer will have a fair opportunity to discuss their loan with SBA. Such presentation will be made to the SBA office servicing the loan. § 144.7 Acceptance of proposal. (a) A borrower accepting the proposal to prepay his/her loan at a discount shall forward the payment coupon provided with the proposal and submit payment for the discounted amount to be received by the Small Business Administration, Denver, CO 80259-0001 not later than the deadline specified in the offer. (b) The receipt of the offer for discounted prepayment does not relieve the disaster home loan borrower from the requirement for the periodic payment under the loan until such time as the offer is accepted by the borrower and payment made to SBA. Rejection of the offer by the borrower does not affect the payment terms of the loan. (c) Upon receipt of the acceptance and payment in full of the discounted amount, SBA will return the promissory note stamped paid-in-full and take any appropriate action necessary to release all encumbrances for any collateral on the loan and to make proper recordation releasing the note back to the borrower. $144.9 Calculation of discount. The SBA will establish a present value of the remaining payments required under a disaster home loan by calculating a price on that loan which would, if the loan were purchased and held to maturity, produce a yield or return to the purchaser equal to the market interest rate determined by the Administrator. A standard net present value calculation will used. The discount rate will be determined by the Administrator after consultation with the financial advisor and consideration of other factors relevant to this program. § 144.11 Tax implication. SBA will advise borrowers that the discounted amount may be considered taxable income and will advise the Internal Revenue Service of the amount of discount applicable to each loan which is prepaid. 145.615 Grounds for suspension of payments, suspension or termination of grants, or suspension or debarment. 145.620 Effect of violation. 145.625 Exception provision. 145.630 Certification requirements and pro cedures. 145.635 Reporting of and employee sanctions AUTHORITY: E.O. 12549; Secs. 5151-5160 of the Drug-Free Workplace Act of 1988 (Pub. L. 100-690, Title V, Subtitle D; 41 U.S.C. 701 et seq.); 15 U.S.C. 634(b)(6). SOURCE: 53 FR 19176, 19204, May 26, 1988, unless otherwise noted. EDITORIAL NOTE: For additional informstion, see related documents published at 52 FR 20360, May 29, 1987, 53 FR 19160, May 26, 1988, and 53 FR 34474, Sept. 6, 1988. CROSS REFERENCE: See also Office of Management and Budget notice published at 55 FR 21679, May 25, 1990. |