TITLE 2 - GRANTS AND AGREEMENTS

SUBTITLE A - OFFICE OF MANAGEMENT AND BUDGET GUIDANCE FOR GRANTS AND AGREEMENTS

CHAPTER II - OFFICE OF MANAGEMENT AND BUDGET CIRCULARS AND GUIDANCE

PART 215 - UNIFORM ADMINISTRATIVE REQUIREMENTS FOR GRANTS AND AGREEMENTS WITH INSTITUTIONS OF HIGHER EDUCATION, HOSPITALS, AND OTHER NON - PROFIT ORGANIZATIONS (OMB CIRCULAR A - 110)

subpart d - AFTER - THE - AWARD REQUIREMENTS

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 215.26.

  (4) Property management requirements in 215.31 through 215.37.

  (5) Records retention as required in 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.

[69 FR 26281, May 11, 2004, as amended at 70 FR 51881, Aug. 31, 2005]