[Code of Federal Regulations] [Title 40, Volume 1] [Revised as of July 1, 2005] From the U.S. Government Printing Office via GPO Access [CITE: 40CFR31.51] [Page 373] TITLE 40--PROTECTION OF ENVIRONMENT CHAPTER I--ENVIRONMENTAL PROTECTION AGENCY PART 31_UNIFORM ADMINISTRATIVE REQUIREMENTS FOR GRANTS AND COOPERATIVE AGREEMENTS TO STATE AND LOCAL GOVERNMENTS--Table of Contents Subpart D_After-the-Grant Requirements Sec. 31.51 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. 31.42; (d) Property management requirements in Sec. Sec. 31.31 and 31.32; and (e) Audit requirements in Sec. 31.26.