[Code of Federal Regulations]
[Title 43, Volume 1]
[Revised as of October 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 43CFR12.91]

[Page 331]
 
                    TITLE 43--PUBLIC LANDS: INTERIOR
 
PART 12_ADMINISTRATIVE AND AUDIT REQUIREMENTS AND COST PRINCIPLES FOR 
ASSISTANCE PROGRAMS--Table of Contents
 
Subpart C_Uniform Administrative Requirements for Grants and Cooperative 
                Agreements to State and Local Governments
 
Sec. 12.91  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. 12.82;
    (d) Property management requirements in Sec. Sec. 12.71 and 12.72; 
and
    (e) Audit requirements in Sec. 12.66.