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among several departments or grants, the LSP must have a Cost Allocation Plan on file with IHCDA, and allocated costs must be detailed to the line-item level (i.e. Allocated Salary, Allocated Rent, etc..) in either the initial GL or a supplementary document. 13.10 Closeout The grant cycle for the energy assistance program closes on September 30 of each year. To close out the grant cycle, the program’s allocation spreadsheet and budget forms will be reconciled to the closeout form, see Form CLOSE-2026 – Energy Assistance Program Closeout Form. This form has separate sheets to indicate carryover for the first year of each two-year award and closeout for the second year of a two-year award. The close out process is the same for all federal funding awards: • The LSP is notified of the closeout date and sent the close out forms. • All closeout forms and final claims must be received by October 31st. • LSPs should ensure that the allowable percentages are in line with the subgrantee agreement. If not, IHCDA will request repayment. • IHCDA will reconcile the close out form to the allocation spreadsheet. • IHCDA will verify that the final budget amount on the allocation spreadsheet matches the amount to the final allocation amount on the closeout form. • IHCDA will verify that final grant expenditures matches the final expended amount on the close out form. All outstanding Return of Funds claims must be received by IHCDA and reconciled prior to closeout. Any funds that are not expended by the LSP will be returned to the program and redistributed during the next program year. The LSP will not carry over the funds in its budget during the next program year. 13.11 Procurement and Inventory Procurement activities should be conducted in a manner consistent with open and free competition. Each LSP must develop its own procurement standards based on its organization’s procurement policies. When an LSP purchases items for the energy assistance program, it must follow all LSP, State and Federal procurement guidelines. All purchases must be eligible expenses. All purchases over $5,000 must follow the guidelines established in the subrecipient agreement. Subgrantees are required to compile and maintain a living inventory document of all equipment and supplies with a useful life of one (1) year or greater in Subgrantee’s possession purchased with federal funds. The inventory document must be maintained at the Subgrantee’s office and provided to IHCDA during monitoring and upon request.