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. 92.42;  

(d) Property management requirements in Sec. 92.31 and 92.32; and  

(e) Audit requirements in Sec. 92.26.