The Period of Performance Reporting will be achieved through quarterly progress reports, and the annual audits are the primary reporting requirements that will end after the period of performance.
Post-closeout reporting is necessary to evaluate the performance of the fund administration, the effectiveness of projects, and the promotion of equity beyond the Period of Performance. Consistent with the processes of similar programs from other federal agencies, FEMA’s grant closeout agreement will specify the type and frequency of reporting needed to ensure compliance with the program statute and priorities.
The Safeguarding Tomorrow RLF program performance measurement process aims to ensure that the program's intended goals are fulfilled through disbursements from the loan fund. As the loan fund is designed to operate beyond the Period of Performance of the grant, long-term monitoring is needed to verify that the program is operating as intended including monitoring the financial position of the fund and the use of federal dollars.
The Post-Closeout Report differs from the Quarterly Progress Report because it:
- Applies to the terms and conditions of the closeout agreement and allows FEMA to evaluate program objectives beyond the POP and
- Involves long-term financial metrics that require more than two years of performance to evaluate.
A corrective action may be needed if an entity’s performance measures do not achieve the established performance measure target. FEMA will work directly with the entity to develop corrective actions to support the program objectives and address challenges.
Corrective actions may focus on the financial management of the fund and processes or specific project support guidance. Corrective actions may come in the form of a written report of the performance review findings and actions that the entity must take to address non-compliance. FEMA may notify the entity of the deficiency and request that the issue is corrected following identified procedures.
However, the program contains post-POP reporting requirements based on the authority of the statute and funding opportunity. The publication of information, annual Intended Use Plan and Project Proposal List submission, and biennial audits are statutory reporting requirements that are mandatory for the existence of the entity loan fund. Revolving loan fund programs are designed to operate for many years beyond the period of performance of the capitalization grant and require long-term resource requirements and reporting.
The Safeguarding Tomorrow RLF program does not require a Project Completion Report to notify FEMA on project closeout for entity loan-funded projects. Performance reporting requirements will include information on details of completed projects, including end date, final cost, and outcomes.
Regarding the closeout reporting requirements for the capitalization grant award (which do not apply to specific projects, but rather, the entity loan fund generally), the requirements are:
- Within 120 calendar days after the end of the period of performance for the capitalization grant award or after an amendment has been issued to close out an award before the original period of performance ends.
- Recipients must liquidate all financial obligations and must submit a final request for payment, If applicable, using the final Federal Financial Report (SF-425)
- A final progress report detailing all accomplishments (including a narrative summary of the impact of those accomplishments throughout the period of performance) and other documents required in the funding opportunity, terms and conditions of the award, or other FEMA guidance.