Section 261.40.6. Financial management.

       40.6(1) Audits. All grants under the program are subject to audit. Grantees shall be responsible for the procurement of audit services and for the payment of audit costs. Audits may be performed by the state auditor’s office or by a qualified independent auditor. Representatives of the department and the state auditor’s office shall have access to all books, accounts, documents and records belonging to, or in use by, grantees pertaining to the receipt of a grant under these rules.

       40.6(2) Record retention. All records shall be retained for five years beyond the grant period or longer if any litigation or audit is begun or if a claim is instituted involving the grant or agreement covered by the record. In these instances, the records shall be retained until the litigation, audit or claim has been resolved.

[ARC 8922B, IAB 6/30/10, effective 6/11/10; ARC 9291B, IAB 12/15/10, effective 1/19/11]