[Code of Federal Regulations]

[Title 32, Volume 1]

[Revised as of July 1, 2006]

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

[CITE: 32CFR34.62]



[Page 222]

 

                       TITLE 32--NATIONAL DEFENSE

 

              CHAPTER I--OFFICE OF THE SECRETARY OF DEFENSE

 

PART 34_ADMINISTRATIVE REQUIREMENTS FOR GRANTS AND AGREEMENTS WITH 

FOR-PROFIT ORGANIZATIONS--Table of Contents

 

                 Subpart C_After-the-Award Requirements

 

Sec.  34.62  Subsequent adjustments and continuing responsibilities.



    (a) The closeout of an award does not affect any of the following:

    (1) The right of the Department of Defense to disallow costs and 

recover funds on the basis of a later audit or other review.

    (2) The obligation of the recipient to return any funds due as a 

result of later refunds, corrections, or other transactions.

    (3) Audit requirements in Sec.  34.16.

    (4) Property management requirements in Sec. Sec.  34.21 through 

34.25.

    (5) Records retention as required in Sec.  34.42.

    (b) After closeout of an award, a relationship created under an 

award may be modified or ended in whole or in part with the consent of 

the grants officer and the recipient, provided the responsibilities of 

the recipient referred to in Sec.  34.61(a), including those for 

property management as applicable, are considered and provisions made 

for continuing responsibilities of the recipient, as appropriate.