Closeout of Flexibly Priced Contracts

This training will provide an overview of the administrative and financial requirements of flexibly priced contract closeout. It will also recall real-life experience to show the deviations and tools available to contractors to work through the last leg of the contract management life cycle. Self-Paced Virtual Training | Intermediate | 90 minutes | 1.5 CPE/CLP | $55 member/$69 non-member


Recorded on January 26, 2023


This discussion will briefly cover the requirements of contract closeout, focusing in on flexibly priced contracts as those are the most cumbersome to close. We will give an overview of the administrative requirements, but spend most time discussing the financial closeout piece, quantifying the number of contracts and potential over/under bill to be given to the government. Using recently enacted and proposed legislation on closeout activities, we will focus on the presenters' real life experience supporting waves of contract closeouts, considering both the contractor's and Government's perspective, including innovative ways to use data and systems to work through sometimes complex and time-intensive closeout activities. Upon completion, attendees will be able identify ways both industry and Government can work together to address this challenge.

Learning Objectives:
  • Understand the FAR requirements for contract closeout
  • Explore available deviations to assist with contract closeout  

Level of Difficulty:

  • Intermediate

Intended Audience:  

  • Contractors and Government

CMBOK Competencies

  • B.3 Financial Management
  • 4.5 Close Out Contract


  • Liz Bair, Senior Manager, Baker Tilly
  • D.J. Halpaus, Manager, Baker Tilly


  • 1.5 CPE/CLP credits for participation


  • $55 member/ $69 non-member

Course Access:

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