Sec. 215.72 Adjustments & Responsibilities
This regulation addresses the closeout of the award, which does not affect the Federal awarding agency’s ability to enforce the terms and agreements of the award. Grantees must still uphold the policies of the Federal award agency agreement, such as record retention, audits, disallowance of cost, return of funds, and property management.
Sec. 215.72 Subsequent adjustments and continuing responsibilities.
- (a) The closeout of an award does not affect any of the following:
- (1) The right of the Federal awarding agency 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. 215.26.
- (4) Property management requirements in Sec. 215.31 through Sec. 215.37.
- (5) Records retention as required in Sec. 215.53.
- (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 Federal awarding agency and the recipient, provided the responsibilities of the recipient referred to in paragraph (a) of this section, including those for property management as applicable, are considered and provisions made for continuing responsibilities of the recipient, as appropriate.
Sec. 215.72 Adjustments & Responsibilities. Whitehouse/OMB. 2007. English.
Last Reviewed: November 2012
Last Updated: July 30, 2015