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Retention Period
You must retain all financial records, supporting documents, statistical records, and all other records pertinent to the award for at least 3 years after receiving notification from the awarding agency that the award has been financially and programmatically closed.
State or local governments may impose record retention and maintenance requirements in addition to those described in this chapter.
The retention requirement includes, if applicable, books of original entry, source documents supporting accounting transactions, the general ledger, subsidiary ledgers, personnel and payroll records, cancelled checks, and related documents and records.
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The 3-year retention period starts from whichever is later: the date when the awarding agency notifies you of financial and programmatic closure of the award, OR when the closure of a single audit report covering the entire award period is submitted.
Please note that if your award has been monitored or audited, the 3-year time frame begins after the closure of all recommendations in the audit or the closure of the grant, whichever is later.
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