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 § 80.42 ;
(d)
Property management requirements in §§ 80.31 and 80.32; and
(e)
Audit requirements in § 80.26.
Code of Federal Regulations
(Authority:
20 U.S.C. 3474
; OMB Circular A-102)