| (a) Grantees must maintain all financial records, supporting
documents, statistical records, and all other records pertinent to
the award for at least three years following the submission of a final
expenditure report or the closure of the most recent audit report,
whichever is later. Grantees may retain records in an electronic format.
All records are subject to audit or monitoring during the entire retention
period.
(b) Grantees must retain records for equipment, non-expendable
personal property, and real property for a period of three years from
the date of the item's disposition, replacement, or transfer.
(c) If any litigation, claim, or audit is started before
the expiration of the three-year records retention period, the grantee
must retain the records under review until the completion of the action
and resolution of all issues which arise from it or until the end
of the regular three-year period, whichever is later.
|
| Source Note: The provisions of this §3.2505 adopted to be effective February 24, 2000, 25 TexReg 1297; amended to be effective December 16, 2002, 27 TexReg 11729; amended to be effective June 21, 2009, 34 TexReg 3925; amended to be effective April 27, 2021, 46 TexReg 2709 |
