[Code of Federal Regulations]

[Title 34, Volume 1]

[Revised as of July 1, 2006]

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

[CITE: 34CFR74.53]



[Page 125-126]

 

                           TITLE 34--EDUCATION

 

PART 74_ADMINISTRATION OF GRANTS AND AGREEMENTS WITH INSTITUTIONS OF 

HIGHER EDUCATION, HOSPITALS, AND OTHER NON-PROFIT ORGANIZATIONS--Table 

of Contents

 

                    Subpart C_Post-Award Requirements

 

Sec.  74.53  Retention and access requirements for records.



    (a) This section establishes requirements for record retention and 

access to records for awards to recipients. The Secretary does not 

impose any other record retention or access requirements upon 

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 

expenditure report or, for awards that are renewed quarterly or 

annually, from the date of the submission of the quarterly or annual 

financial report, as authorized by the Secretary. 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 the Secretary, 

the 3-year retention requirement is not applicable to the recipient.

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

specified in Sec.  74.53(g).

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

records if authorized by the Secretary.



[[Page 126]]



    (d) The Secretary requests 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 

recordkeeping, the Secretary may make arrangements for recipients to 

retain any records that are continuously needed for joint use.

    (e) The Secretary, 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 

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

recipient's personnel for the purpose of interview and discussion 

related to these documents. 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, the Secretary does not place 

restrictions on recipients that limit public access to the records of 

recipients that are pertinent to an award, except when the Secretary can 

demonstrate that the records must 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 ED.

    (g) The starting date for retention of the following types of 

documents (including supporting records) is specified in paragraphs 

(g)(1) and (2) of this section: 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 the 

Secretary 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 submission.

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

required to submit to the Secretary 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.



(Approved by the Office of Management and Budget under control number 

1880-0513)



(Authority: 20 U.S.C. 1221e-3 and 3474; OMB Circular A-110)



[59 FR 34724, July 6, 1994, as amended at 60 FR 6660, Feb. 3, 1995; 60 

FR 46493, Sept. 6, 1995]



                       Termination and Enforcement