20 U.S.C. § 1232f : US Code - Section 1232F: Records

Search 20 U.S.C. § 1232f : US Code - Section 1232F: Records

(a) Records kept by recipient; full disclosure; maintenance period
Each recipient of Federal funds under any applicable program
through any grant, subgrant, cooperative agreement, loan, or other
arrangement shall keep records which fully disclose the amount and
disposition by the recipient of those funds, the total cost of the
activity for which the funds are used, the share of that cost
provided from other sources, and such other records as will
facilitate an effective financial or programmatic audit. The
recipient shall maintain such records for three years after the
completion of the activity for which the funds are used.
(b) Audit examination
The Secretary and the Comptroller General of the United States,
or any of their duly authorized representatives, shall have access,
for the purpose of audit examination, to any records maintained by
a recipient that may be related, or pertinent to, grants,
subgrants, cooperative agreements, loans, or other arrangements to
which reference is made in subsection (a) of this section, or which
may relate to the compliance of the recipient with any requirement
of an applicable program.