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#150691

Mark Forman
Participant

This same issue occurs in federal grants. The Virginia governor found substantial unused funds that the state accessed when he did a close out audit (I think he got a no-cost extension to use the funds). Often, it seems that organizations delay close-out because they fear the audit of expenditures, want to keep the vehicle open for modifications, or dont have the staff for the workload associated with closeout. I suspect that the latter is a big issue with small to medium contractors.