Title 15 — Commerce and TradeRelease 119-73not60

§2907 Contract and Grant Authority; Records and Audits

Title 15 › Chapter 56— NATIONAL CLIMATE PROGRAM › § 2907

Last updated Apr 3, 2026|Official source

Summary

Federal officers and agencies can do their work with their own staff or, if Congress allows in the funding laws, hire outside people or groups under contracts or grants to help. Anyone who gets federal money this way must keep records the Office Director requires. Those records must show how much money was received and spent, total costs, what other money was used, and anything else needed for an audit. The Office Director, the U.S. Comptroller General, or their authorized agents may inspect any related books, papers, or records for 3 years after the work is finished.

Full Legal Text

Title 15, §2907

Commerce and Trade — Source: USLM XML via OLRC

(a)Functions vested in any Federal officer or agency by this chapter or under the Program may be exercised through the facilities and personnel of the agency involved or, to the extent provided or approved in advance in appropriation Acts, by other persons or entities under contracts or grant arrangements entered into by such officer or agency.

(b)(1)Each person or entity to which Federal funds are made available under a contract or grant arrangement as authorized by this chapter shall keep such records as the Director of the Office shall prescribe, including records which fully disclose the amount and disposition by such person or entity of such funds, the total cost of the activities for which such funds were so made available, the amount of that portion of such cost supplied from other sources, and such other records as will facilitate an effective audit.

(2)The Director of the Office and the Comptroller General of the United States, or any of their duly authorized representatives, shall, until the expiration of 3 years after the completion of the activities (referred to in paragraph (1)) of any person or entity pursuant to any contract or grant arrangement referred to in subsection (a), have access for the purpose of audit and examination to any books, documents, papers, and records of such person or entity which, in the judgment of the Director or the Comptroller General, may be related or pertinent to such contract or grant arrangement.

Reference

Citations & Metadata

Citation

15 U.S.C. § 2907

Title 15 — Commerce and Trade

Last Updated

Apr 3, 2026

Release point: 119-73not60