Operational guidelines
financial closure of projects
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NAME
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TITLE
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DATE
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Author:
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Dale Leach
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Consultant
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28 Feb 2017
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Updated:
(Added GFATM/Global Fund Project Closure Guide)
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Dale Leach
Nadda Chotiwichit
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Consultant
Financial Business Advisor, Office of Financial Management
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29 January 2021
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Review:
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Amat O. Kebbeh
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Financial Resources Advisor, Office of Financial Management, Bureau of Management Services
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23 February 2021
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Approved by:
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George Kyriacou
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Deputy CFO & Financial Business Partnering
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23 February 2021
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Contents
1.0 Overview 3
2.0 business process 4
2.1 Summary 4
3.0 CLOSURE OF PROJECTS 6
4.0 OPERATIONAL Closure 7
5.0 FINANCIAL Closure 8
6.0 PROCEDURAL Steps for Financial Closure 11
7.0 Other Issues impeding Project Closure 46
8.0 Managing exceptions THROUGH ALTERNATIVE Procedures 46
9.0 BEST Practices in Closing Projects 49
ANNEX 1 -ANNOTATED Project Completion Check List (POPP) 51
ANNEX 2 54
a)Annotated Listing of Active, Inactive and Restricted Balance Sheet Accounts 54
b)Balance Sheet Accounts -Clean-up guidance for fund and project closures 55
c)Revalued Account List 58
Annex 3 – Operating guidelines for MPTF Projects 59
Annex 4 – KK vs GL Balance Reconciliation Steps 60
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