Completing the Financial Confirmation Closeout (FCC) Module

Summary

A guide titled Completing the Financial Confirmation Closeout (FCC) Module. It states that the ERA2 Final Report provides a best estimate of the ERA2 award funds to be returned to Treasury as of the date it was submitted, and that the total may change before Treasury completes its review. It states that changes may be due to landlords returning additional rental assistance funds or the identification of disallowed costs. It states that after reviewing the Final Report Treasury will send an email notifying the grantee to access the FCC Module to report financial updates.

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Completing the Financial Confirmation Closeout (FCC) Module

What is the FCC Module and when do you complete it?
Your ERA2 Final Report (Final Report) provides a best estimate of the ERA2 award funds you will need to return to
Treasury, as of the date you submitted the Final Report. However, the total amount may change between when
you submit the Final Report and when Treasury completes its review. Changes may be due to landlords returning
additional rental assistance funds or the identification of disallowed costs during the review period.




                     Calculating Final Returns to Treasury (see ERA2 Closeout Resource, p. 11)

After reviewing your Final Report, Treasury will send an email notifying you to access the FCC Module. The module
makes it simple for you to report any financial updates that occurred after you submitted the Final Report. The
module also allows you to review any other changes to your expected return. Information reported on the FCC
Module will be the basis for the calculation of your final balance due to Treasury.


Before You Begin
       ☐ Confirm you have access to Treasury’s Portal and Closeout Reports. For assistance see:
       Tip – Designating Points of Contact for ERA Reporting.
       ☐ Ensure any responses to information document requests (IDRs) have been submitted.


Step 1: Access the Module
       ☐ Receive a notification from Treasury that the FCC Module is available in the
       Portal for your review.
       ☐ Log into Treasury’s Portal and select 'Closeout Reports'.
       ☐ Scroll to 'ERA2 Final Reports' and find the FCC Module under the ‘Report Name’ column.
       ☐ Click the pencil icon to open the ERA2 FCC Module.
Step 2: Part 1 — Recipient Returns & Program Income
Use Part 1 of the module to report any changes that occurred since you submitted your Final Report. The
questions are dynamic; you will see additional questions depending on your answers to Questions 1 and 2.

        ☐ Answer “yes” or “no” to Question 1 “Have you received returned funds 1 after the submission of your
        ERA2 Final Quarterly Report?” and answer any additional prompts, as applicable.




        ☐ Answer “yes” or “no” to Question 2, “Did you use any of your ERA2 funds for eligible affordable rental
        housing programs, as outlined in FAQ46?” and follow additional prompts, as necessary.




1 “Returned funds” include any funds returned to the recipient since the submission of the ERA2 Final Report that result in

adjustments to total ERA2 award obligations (such as any ERA2 award funds returned from a beneficiary, tenant, landlord,
utility company, subrecipient, contractor, etc.)
Step 3: Part 2 — Award Financials Confirmation
Part 2 of the FCC Module allows you to compare the financial expenditures submitted in the Final Report (including
all adjustments made in your IDR responses) with updated figures from Part 1 of this module, as well as any
disallowed costs identified during the review of your Final Report.

       ☐ Review by comparing left column data ‘Original (Final Report or IDR Response)’ with right column data
       ‘Updated (FCC Responses)’.
       ☐ Confirm updated figures are correct.
       ☐ Review the final Balance Due to Treasury.
       ☐ Contact EmergencyRentalAssistance@Treasury.gov if corrections are needed.
       ☐ Click 'Next'.




                                                                                    The left-hand column
                                                                                    shows amount reported in
                                                                                    the Final Report as
                                                                                    updated by IDR
                                                                                    responses (if applicable).




                                                                                     The right-hand column
                                                                                     shows adjustments made to
                                                                                     the “Original (Final Report
                                                                                     or IDR Response)” column
                                                                                     due to information
                                                                                     provided in Part 1 of this
                                                                                     module and Treasury’s
                                                                                     review of your Final
                                                                                     Report.
Step 4: Certification & Submission

       ☐ Review the Total Balance Due to Treasury.
       ☐ Using the dropdown list, select the Point of
       Contact for Returning Funds who should receive
       further communications from Treasury regarding
       the return of ERA2 funds/receipt of pre-debt
       notice.
       ☐ If you need to add or update the individual
       Point of Contact for Returning Funds see:
        Tip – Designating Points of Contact for ERA
       Reporting.
       ☐ Authorized Point of Contact reads the
       Statement and clicks 'Certify and Submit' to
       certify that the information provided is accurate
       and complete after reasonable inquiry of people,
       systems, and other information available to the
       ERA2 participant.




What to Expect Next:

After you certify, Treasury will review the information
provided in the FCC Module.

If you have a balance due to Treasury, you should wait
until receiving a payment request from Treasury before
returning ERA2 award funds. Treasury will send
repayment instructions and deadlines to make payments
(also referred to as a “pre-debt notice”), as appropriate.
Repayment of funds should occur within 30 calendar days
to avoid debt collection.

In general, the conclusion of financial closeout is often the last step in Treasury’s closeout process and may be
followed by Treasury sending the recipient a Notification of Completion.

For more information, see pages 11-13 of the ERA2 Closeout Resource.


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