§ 457.226 - Fiscal policies and accountability.  


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  • § 457.226 Fiscal policies and accountability.

    A State plan must provide that the CHIP agency and, where applicable, local agencies administering the plan will -

    (a) Maintain an accounting system and supporting fiscal records to assure that claims for Federal funds are in accord with applicable Federal requirements;

    (b) Retain records for 3 years from date of submission of a final expenditure report;

    (c) Retain records beyond the 3-year period if audit findings have not been resolved; and

    (d) Retain records for nonexpendable property acquired under a Federal grant for 3 years from the date of final disposition of that property.