PART 1504—ADMINISTRATIVE MATTERS
PART 1504—ADMINISTRATIVE MATTERS
Section Contents
Subpart 1504.6—Contract Reporting
1504.670 [Reserved]
Subpart 1504.8—Contract Files
1504.804 Closeout of contract files. 1504.804-5 Detailed procedures for closing out contract files.
Authority: 5 U.S.C. 301; Sec. 205(c), 63 Stat. 390, as amended, 40 U.S.C. 486(c); 41 U.S.C. 418b.
Source: 49 FR 28246, July 11, 1984, unless otherwise noted.
Subpart 1504.6—Contract Reporting
1504.804 Closeout of contract files.
1504.804-5 Detailed procedures for closing out contract files.
In addition to those procedures set forth in
FAR 4.804–5, the contracting office shall, before final payment is made under a cost reimbursement type contract, verify the allowability, allocability, and reasonableness of costs claimed. Verification of total costs incurred should be obtained from the Office of Audit through the Financial Analysis and Oversight Service Center' in the form of a final audit report. Similar verification of actual costs shall be made for other contracts when cost incentives, price redeterminations, or cost-reimbursement elements are involved. Termination settlement proposals shall be submitted to the cost advisory group at the contracting office for review by the Office of Audit as prescribed by
FAR 49.107. All such audits will be coordinated through the cost advisory group in the contracting office. Exceptions to these procedures are the quick close-out procedures as described in
FAR 42.708 and Unit 42 of the EPA Acquisition Handbook.
[49 FR 28246, July 11, 1984, 63 FR 46899, Sept. 3, 1998, as amended at 78 FR 46289, July 31, 2013.]