04 NCAC 19N .0504. RECORDKEEPING

(a)  NRCD, or any of NRCD's duly authorized representatives, shall have access to all books, accounts, records, reports, files, and other papers or property of recipients or their subrecipients and contractors pertaining to funds provided under this Subchapter for the purpose of making surveys, audits, examinations, excerpts and transcripts.

(b)  Financial records, supporting documents and all other reports and records required under this Subchapter, and all other records pertinent to the ESGP Program shall be retained by the recipient for a period of at least one year from the date of the closeout of the program, or longer in the following circumstances:

(1)           Records documenting compliance with 24 CFR 575.53 shall be kept for the period of compliance;

(2)           Records shall be retained until all litigations, claims, or audit findings involving the records have been resolved.

(c)  All records shall be sufficient to determine compliance with the requirements and primary objectives of the ESGP Program and all other applicable laws and regulations.  All accounting records shall be supported by source documentation and show compliance with Rule .0503 of this Section.

 

History Note:        Filed as a Temporary Rule Eff. June 30, 1987, for a period of 120 days to expire on

October 21, 1987;

Filed as a Temporary Rule Eff. March 2, 1987, for a period of 120 days to expire on

June 30, 1987;

Authority G.S. 143‑323; 143B‑10; 24 C.F.R. 575.67;

Eff. September 1, 1987.