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| Page | 3/18 | | Date | 11.05.2023 | | Size | 1.86 Mb. | | #61323 |
| FRM Financial Closure Financial Closure of Development Projects Operational GuidelinesDeliverables / Output
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One stop-shop for closing projects.
Timely action by Country Offices and/or HQ units to close inactive development & management projects
Reduction in the number of inactive projects particularly those with cost sharing balances.
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Duration
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Ongoing
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Customers / users of output
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Primarily Country Offices, Regional Hubs and HQ units inclusive of HQ Operational units.
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Roles
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Programme/Project Managers (UNDP)
Oversight/Management of project(s)
Initiate closure of inactive projects and trust funds
Ensure all projects are financially closed
Ensure all GL balances (Asset; Liability; and Fund) are zero;
Regional Bureau/HQ unit
Oversight on project closure for the Cost Centre (CC)
Provide technical support to COs/units
Escalate complex matters to OFM
Manage exceptions in consultation with BMS/OFM
Enhance capacity of COs on project closure where necessary
OFM
Verify Completion Check List for Trust Fund closure based on Atlas records.
Monitor and Periodically prepare listing of projects to be closed
Advise COs and HQ units on complex issues that arise and delay project closing. Determine accounts to be excluded when closing projects
Provide trainings on project closure where needed
Treasury -Process refunds to donors if required by agreements
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