Human Resources and Skills Development Canada
Symbol of the Government of Canada

Human Resources and Skills Development Canada

www.hrsdc.gc.ca

Breadcrumb

  1. Home >
  2. Skills

Guide to Managing Your Contribution Funds

6.0 Closing a project

Upon receiving the final claim, an HRSDC representative contacts you to schedule the final monitoring. Your final claim should reach us within 60 days after the end date of your agreement. The final monitoring is needed to close an expired agreement.

6.1 Holdback

A token holdback is retained on all agreements signed. The holdback is normally 10% of the contribution, and is withheld to avoid overpayments.

The 10% hold back criteria can be reduced to a lower value under the following conditions:

  1. where it is not prohibited by the program Terms and Conditions;
  2. where the withholding of 10% creates undue hardship for the Recipient;
  3. where the objectives of the program would not be met; or
  4. where the risk of overpayment is low.

If you want to reduce the holdback, you must provide a written request to HRSDC representative with justification for reducing the holdback.

6.2 Preparing for the "Close-out" monitoring

In preparation for this monitoring, you need to

  • update the list of capital assets acquired during the life of the agreement (indicating the serial number, make and model number);
  • submit a copy of the final project report to the HRSDC representative before the final monitoring visit, to allow enough time for review (see your agreement);
  • have the final bank statement, all cancelled cheques, payroll, original invoices and contracts on hand for HRSDC verification; and
  • ensure that you provide HRSDC with a copy of all products that were developed during the agreement (brochures, CD, Web links, etc.).

6.3 Termination notices to project staff

At the end of an agreement, and if the services are no longer required, you are responsible for giving project employees the proper notice required by your province's Employment Standards Act. HRSDC is not responsible for additional costs you incur if you overlook this requirement.

6.4 Disposing of capital assets

HRSDC has no property rights or security interests in capital assets purchased with contribution funds. However, provisions in your contribution agreement allow HRSDC to direct how any assets you purchased with HRSDC funds must be disposed of.

If capital assets were purchased, your organisation has to send a request to your HRSDC representative to obtain the assets approval for the disposal.

6.5 Final payment

Once the final monitoring is complete, that all outstanding issues have been resolved and that the final project report if required by your program has been completed and received, HRSDC will process your final claim.

If HRSDC owes you a final payment, a cheque will be issued. On the other hand, if HRSDC has overpaid you, a letter will be sent to your organization requesting a cheque for the amount overpaid.

Footer

Date Modified:
2012-01-30