[Code of Federal Regulations]

[Title 24, Volume 1]

[Revised as of April 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 24CFR85.51]



[Page 539]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

PART 85_ADMINISTRATIVE REQUIREMENTS FOR GRANTS AND COOPERATIVE AGREEMENTS 

TO STATE, LOCAL AND FEDERALLY RECOGNIZED INDIAN TRIBAL GOVERNMENTS

--Table of Contents

 

                 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.