[Code of Federal Regulations]

[Title 14, Volume 5]

[Revised as of January 1, 2006]

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

[CITE: 14CFR1274.601]



[Page 483-484]

 

                     TITLE 14--AERONAUTICS AND SPACE

 

                          SPACE ADMINISTRATION

 

PART 1274_COOPERATIVE AGREEMENTS WITH COMMERCIAL FIRMS--Table of Contents

 

                   Subpart 1274.6_Reports and Records

 

Sec. 1274.601  Retention and access requirements for records.





    (a) This subpart sets forth requirements for record retention and 

access to records for awards to recipients.

    (b) Financial records, supporting documents, statistical records, 

and all other records pertinent to an award shall be retained for a 

period of three years from the date of submission of the final invoice. 

The only exceptions are the following:

    (1) If any litigation, claim, or audit is started before the 

expiration of the 3-year period, the records shall be retained until all 

litigation, claims or audit findings involving the records have been 

resolved and final action taken.

    (2) Records for real property and equipment acquired with Federal 

funds shall be retained for 3 years after final disposition.

    (3) When records are transferred to or maintained by NASA, the 3-

year retention requirement is not applicable to the Recipient.

    (4) Indirect cost rate proposals, cost allocations plans, etc., as 

specified in paragraph (g) of this section.

    (c) Copies of original records may be substituted for the original 

records if authorized by NASA.

    (d) NASA shall request transfer of certain records to its custody 

from recipients when it determines that the records possess long term 

retention value. However, in order to avoid duplicate record keeping, 

NASA may make arrangements for recipients to retain any records that are 

continuously needed for joint use.

    (e) NASA, the Inspector General, Comptroller General of the United 

States, or any of their duly authorized representatives, have the right 

of timely and unrestricted access to any books, documents, papers, or 

other records of Recipients that are pertinent to the awards, in order 

to make audits, examinations, excerpts, transcripts and copies of such 

documents. This right also includes timely and reasonable access to a 

recipient's personnel for the purpose of interview and discussion 

related to such documents.



[[Page 484]]



The rights of access in this paragraph are not limited to the required 

retention period, but shall last as long as records are retained.

    (f) Unless required by statute, NASA shall not place restrictions on 

recipients that limit public access to the records of recipients that 

are pertinent to an award, except when NASA can demonstrate that such 

records shall be kept confidential and would have been exempted from 

disclosure pursuant to the Freedom of Information Act (5 U.S.C. 552) if 

the records had belonged to NASA.

    (g) Indirect cost rate proposals, cost allocations plans, etc., 

applies to the following types of documents, and their supporting 

records: indirect cost rate computations or proposals, cost allocation 

plans, and any similar accounting computations of the rate at which a 

particular group of costs is chargeable (such as computer usage 

chargeback rates or composite fringe benefit rates).

    (1) If submitted for negotiation. If the recipient submits to NASA 

or the subrecipient submits to the recipient the proposal, plan, or 

other computation to form the basis for negotiation of the rate, then 

the 3-year retention period for its supporting records starts on the 

date of such submission.

    (2) If not submitted for negotiation. If the recipient is not 

required to submit to NASA or the subrecipient is not required to submit 

to the recipient the proposal, plan, or other computation for 

negotiation purposes, then the 3-year retention period for the proposal, 

plan, or other computation and its supporting records starts at the end 

of the fiscal year (or other accounting period) covered by the proposal, 

plan, or other computation.