The period of performance is the time period during which the recipient and subrecipient may incur new obligations to carry out all administrative actions and award activities and incur costs. [225] Recipients and subrecipients are expected to complete the federal award activities including administrative actions and to incur approved assistance within the period of performance. Equipment and services and other activities funded by a subaward must be performed, delivered and completed within the subaward period of performance. The recipient must include the start and end dates of the subaward period of performance in the subaward. The period of performance does not include the closeout and liquidation time frames established by 2 CFR § 200.344. Project costs and management costs incurred after the period of performance are not eligible. HMA recipients and subrecipients must complete all administrative actions within the respective award or subaward period of performance if they seek federal assistance to cover the costs.
225. Period of performance is defined at 2 CFR § 200.1 as “the total estimated time interval between the start of an initial Federal award and the planned end date, which may include one or more funded portions, or budget periods. Identification of the period of performance in the Federal award per § 200.211(b)(5) does not commit the awarding agency to fund the award beyond the currently approved budget period.” Budget period is defined at 2 CFR § 200.1 as “the time interval from the start date of a funded portion of an award to the end date of that funded portion during which recipients are authorized to expend the funds awarded, including any funds carried forward or other revisions pursuant to § 200.308.” FEMA awards only include one budget period, so it will be same as the period of performance.