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Contract Closeout. Agenda. Contract closeout Involvement of key players in closeout process Develop a check list and a team Understand the types of contracts and the timeframes required for closeout. Know the appropriation life cycle Common closeout barriers Expediting contract closeout

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Presentation Transcript
agenda
Agenda
  • Contract closeout
  • Involvement of key players in closeout process
  • Develop a check list and a team
  • Understand the types of contracts and the timeframes required for closeout.
  • Know the appropriation life cycle
  • Common closeout barriers
  • Expediting contract closeout
  • Discussion
life cycle of a contract procure to pay
Life Cycle of a Contract – Procure to Pay

Contract Performance

and Administration

Title

Funding

Pre Contract

Structure/Award

Contract Closeout

slide4

Contract Closeout Key Players

Services

Additional Funding

Property Disposition

Replacement Funds

Product Acceptance

Funds Management

Negotiation of Rates

Complete all Closeout Actions

DCAA

DCMA

Final OH Rates

Indirect Cost Audits

CACWS

Final Voucher Review

ONE FOCUS

Indirect Cost Rate Prop

Year End Rate Adjustments

Final Invoice//Vouchers

Settle Subcontracts

Reconciliations

Part B (FFP<100K)

Final Payment

Industry

DFAS

major steps in contract closeout
Major Steps in Contract Closeout

7. Dispose of contract file

6. Prepare contract

completion statement

5. Deobligate excess funds /

request additional funds

4. Initiate final payment to

or collection of overpayment

from contractor

3. Resolve all outstanding issues

2. Obtain all forms, reports,

and clearances, for closeout

1. Verify that contract

is physically complete

slide6

Time Standard FAR 4.804

  • FAR 4.804-3 directs payment office to close contract upon issuance of final payment voucher
appropriation life cycle
Appropriation Life Cycle

Expired

Current/Available

Cancelled

Available for Funding

Available for Obligation

and Payment

Must Obtain

New Funding

Payment

common closeout barriers
Common Closeout Barriers
  • Contractor Submission Delays
    • Delinquent incurred cost proposals
    • Awaiting Subcontractor Submissions
    • Submission of Final Cost Vouchers
  • Delayed Negotiation of Overhead Rates
  • Payment Delays
  • Contract Writing
  • Canceled Funds
  • Reconciliation Issues
contract closeout excess funds
Contract Closeout Excess Funds

Process Flow

The ACO deobligates excess funds after final price determination; ensure funding is in accordance with contract terms

The excess funds available for deobligation are removed by contract modification (SF 30) after PCO permission

The ACO reviews unliquidated obligations (ULOs) against open and cancelled appropriations

Excess funds do NOT include “remaining” funds due to price variance, rounding, or cost underrun funding

The PCO is notified of the contract closeout by a MILCAP EDI (electronic) or a DD form 1594 (manual)

Systemic deobligation of remaining funding is handled under the Q-Final process in MOCAS

* Request closeout contract payment history at cco-reconciliation-maillog@dfas.mil

resources
Resources
  • DCMA Homepage:
    • www.dcma.mil
  • DCMA Contract Closeout Page:
    • http://home.dcma.mil/cntr-dcmac-m/index.htm
  • DCAA Homepage:
    • www.dcaa.mil
  • FAR Home Site
    • www.arnet.gov/far