The closeout of a grant does not affect:
(a)
The Federal agency's right to disallow costs and recover funds on the basis of a later audit or other review;
(b)
The grantee's obligation to return any funds due as a result of later refunds, corrections, or other transactions;
(c)
Records retention as required in § 33.42 ;
(d)
Property management requirements in §§ 33.31 and 33.32; and
(e)
Audit requirements in § 33.26.
[53 FR 8070 and 8087, Mar. 11, 1988. Redesignated and amended at 57 FR 6199 and 6201, Feb. 21, 1992]