Closeout and Post-Performance

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The entire closeout process involves several steps, followed by some closeout activities intended to balance the books and facilitate future contracts. To understand the process, recall these basics of the relationship between a contract and a task order.

1. A contract is an agreement between two parties – a buyer and a consultant – who promise to exchange money, goods, or services according to a specific schedule.

2. A task order is a subset of the contract that explains exactly how contract money will be spent.

3. Contract encumbrances are the amount of money available for the contract shown in the AMS Advantage accounting database.

Closing out the contract involves closing out the task orders, wrapping up administrative issues, and certifying the consultant’s final invoice for payment. Post-closeout activities include removing any remaining contract encumbrances, and evaluating the Caltrans-consultant relationship.