[Code of Federal Regulations]
[Title 24, Volume 1]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 24CFR85.51]

[Page 529]
 
                 TITLE 24--HOUSING AND URBAN DEVELOPMENT
 
PART 85_ADMINISTRATIVE REQUIREMENTS FOR GRANTS AND COOPERATIVE AGREEMENTS 
 
                 Subpart D_After-the-Grant Requirements
 
Sec. 85.51  Later disallowances and adjustments.

    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. 85.42;
    (d) Property management requirements in Sec. Sec. 85.31 and 85.32; 
and
    (e) Audit requirements in Sec. 85.26.