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  • Question

    Can you closeout a contract with a de-obligation under $1,000?


    Answer

    The following response is based solely on the question and background information provided.  As we do not have all the facts particular to your contract, program, and situation, we highly recommend, as applicable, you consult your leadership, contracting officer and/or Legal Office for guidance.
     
    Unless your agency has additional guidance and/or direction, you should deobligate any excess funds resulting from your final contract closeout process.  Irrespective of dollar amount, FAR 4.804-5 lays out the procedures for closing out contracts and FAR 4.804-5(a)(15) specifically directs that excess funds be deobligated upon completion of the contract funds status review. 
     

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