42 U.S.C. § 5062: Audit

Summary

People or groups who get federal grants, subgrants, contracts, subcontracts, or loans under this law — unless obtained by formal advertising — must keep the records the Director or the Inspector General requires. Those records must show how the money was used, the total project cost, how much came from other sources, and anything else needed for an audit. The Director, the Inspector General, the Comptroller General, or their authorized reps may inspect those records for audit or review until three years after the project is finished.

Title 42, §5062

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

(a)Recordkeeping

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)Access to books, documents, papers, and records; limitations

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