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Legal Resources | Code of Federal Regulations, Title 34 |  T34  80.51, 080.051  

Later disallowances and adjustments   

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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 Sec. 80.42;

(d) Property management requirements in Secs. 80.31 and 80.32; and

(e) Audit requirements in Sec. 80.26.

(Authority: 20 U.S.C. 3474; OMB Circular A-102)