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Code of Federal Regulations (Last Updated: July 5, 2024) |
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Title 20 - Employees' Benefits |
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Chapter V - Employment and Training Administration, Department of Labor |
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Part 627 - GENERAL PROVISIONS GOVERNING PROGRAMS UNDER TITLES I, II, AND III OF THE ACT |
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Subpart D - Administrative Standards |
§ 627.490 - Later disallowances and adjustments after closeout.
Latest version.
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The closeout of a grant does not affect:
(a) The Grant Officer's right to disallow costs and recover funds on the basis of a later audit or other review;
(b) The recipient's obligation to return any funds due as a result of later refunds, corrections, subrecipient audit disallowances, or other transactions;
(c) Records retention requirements in § 627.460 of this part, Requirements for records, and § 627.463 of this part, Public access to records;
(d) Property management requirements in § 627.465 of this part, Property management standards; and
(e) Audit and audit resolution requirements in § 627.480 of this part, Audits and § 627.481 of this part, Audit resolution.