Records management supports compliance, accountability, and transparency in managing federal awards. Federal regulations outline specific requirements for retention, transfer, access, and public disclosure of records to ensure oversight and legal adherence.
Key Insights
- Recipients must retain records for a minimum of three years after submitting the final expenditure report, with longer retention required in cases involving audits, litigation, or property management.
- Federal agencies may request records at any time for official purposes, and recipients must be prepared to transfer them promptly as outlined in Section 335.
- There is no automatic public access to records; disclosures must comply with the Freedom of Information Act and relevant laws while safeguarding privacy and security.
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Proper management of records is essential for compliance, accountability, and transparency in federal award administration. Subsection 334 covers record retention. Recipients must keep records on hold for at least three years after the final expenditure report.
Records may need to be retained longer if required for audits, litigation, or property management purposes. Section 335 covers the transfer of records. Federal agencies may have the authority to request records for official federal purposes.
Recipients must be prepared to transfer records promptly when required. Subsection 336, access and storage. This ensures that records are accessible in a timely manner to federal agencies, pass-through entities, auditors, and, when applicable, sub-recipients or contractors.
Proper storage and organization facilitate efficient review and oversight. Subsections 337 to 338 cover public access. There is no automatic public access to federal award records.
Access must comply with the Freedom of Information Act or applicable state and local laws, bylaws, and transparency with privacy and security concerns. Maintaining proper record retention and controlled access ensures compliance with federal regulations, supports accountability, and promotes transparency without creating unnecessary public disclosure obligations.