§5062 — Title 42 The Public Health and Welfare | U.S. Code

Summary

Anyone who gets federal grants, subgrants, contracts, subcontracts, or loans under this chapter without formal advertising must keep the records the Director or the Inspector General requires. Those records must show how much money was received, how it was spent, the total cost of the project, how much other sources paid, and any other papers needed so the spending can be audited. The Director, the Inspector General, and the Comptroller General, or their authorized representatives, can inspect or audit any books, documents, papers, and records that seem related to the funding. They have this access until three years after the project is finished.

Title 42, §5062

The Public Health and Welfare — Source: USLM XML via OLRC

(a)Each recipient of Federal grants, subgrants, contracts, subcontracts, or loans entered into under this chapter other than by formal advertising, and which are otherwise authorized by this chapter, shall keep such records as the Director or the Inspector General shall prescribe, including records which fully disclose the amount and disposition by such recipient of the proceeds of such assistance, the total cost of the project or undertaking in connection with which such assistance is given or used, the amount of that portion of the cost of the project or undertaking supplied by other sources, and such other records as will facilitate an effective audit.

(b)The Director, the Inspector General, and the Comptroller General of the United States, or any of their duly authorized representatives, shall, until the expiration of three years after completion of the project or undertaking referred to in subsection (a) of this section, have access for the purpose of audit and examination to any books, documents, papers, and records of such recipients which in the opinion of the Director, the Inspector General, or the Comptroller General may be related or pertinent to the grants, contracts, subcontracts, subgrants, or loans referred to in subsection (a).

Notes & Related Subsidiaries

Editorial Notes

References in Text

This chapter, referred to in subsec. (a), was in the original “this Act”, meaning Pub. L. 93–113, Oct. 1, 1973, 87 Stat. 394, known as the Domestic Volunteer Service Act of 1973, which is classified principally to this chapter. For complete classification of this Act to the Code, see

Short Title

note set out under section 4950 of this title and Tables.

Amendments

1993—Subsec. (a). Pub. L. 103–82, § 369(1), inserted “or the Inspector General” after “Director”. Subsec. (b). Pub. L. 103–82, § 369(2), inserted “, the Inspector General,” after “Director” in two places.

Statutory Notes and Related Subsidiaries

Effective Date

of 1993 AmendmentAmendment by Pub. L. 103–82 effective Oct. 1, 1993, see section 392 of Pub. L. 103–82, set out as a note under section 4951 of this title.

§5062 Audit