 
           CHAPTER 31--GENERAL PROVISIONS CONCERNING EDUCATION
 
SUBCHAPTER III--GENERAL REQUIREMENTS AND CONDITIONS CONCERNING OPERATION 
AND ADMINISTRATION OF EDUCATION PROGRAMS: GENERAL AUTHORITY OF SECRETARY
 
    Part 4--Records; Privacy; Limitation on Withholding Federal Funds
 
Sec. 1232f. Records


(a) Records kept by recipient; full disclosure; five-year maintenance 
        period

    Each recipient of Federal funds under any applicable program through 
any grant, subgrant, cooperative agreement, loan, or other arrangement 
shall keep records which fully disclose the amount and disposition by 
the recipient of those funds, the total cost of the activity for which 
the funds are used, the share of that cost provided from other sources, 
and such other records as will facilitate an effective financial or 
programmatic audit. The recipient shall maintain such records for three 
years after the completion of the activity for which the funds are used.

(b) Audit examination

    The Secretary and the Comptroller General of the United States, or 
any of their duly authorized representatives, shall have access, for the 
purpose of audit examination, to any records maintained by a recipient 
that may be related, or pertinent to, grants, subgrants, cooperative 
agreements, loans, or other arrangements to which reference is made in 
subsection (a) of this section, or which may relate to the compliance of 
the recipient with any requirement of an applicable program.

(Pub. L. 90-247, title IV, Sec. 443, formerly Sec. 437, as added Pub. L. 
95-561, title XII, Sec. 1231(c), Nov. 1, 1978, 92 Stat. 2346; renumbered 
Sec. 443 and amended Pub. L. 103-382, title II, Secs. 212(b)(1), 248, 
Oct. 20, 1994, 108 Stat. 3913, 3924.)


                            Prior Provisions

    A prior section 443 of Pub. L. 90-247 was classified to section 
1233b of this title prior to repeal by Pub. L. 103-382.


                               Amendments

    1994--Subsec. (a). Pub. L. 103-382, Sec. 248(1), substituted 
``grant, subgrant, cooperative agreement, loan, or other arrangement'' 
for ``grant, subgrant, contract, subcontract, loan, or other arrangement 
(other than procurement contracts awarded by an administrative head of 
an educational agency)'', inserted ``financial or programmatic'' before 
``audit.'', and substituted ``three years'' for ``five years''.
    Subsec. (b). Pub. L. 103-382, Sec. 248(2), substituted ``to any 
records maintained by a recipient that may be related, or pertinent to, 
grants, subgrants, cooperative agreements, loans, or other 
arrangements'' for ``to any records of a recipient which may be related, 
or pertinent to, the grants, subgrants, contracts, subcontracts, loans, 
or other arrangements''.


                             Effective Date

    Section effective with respect to appropriations for fiscal year 
1980 and subsequent fiscal years, see section 1261 of Pub. L. 95-561, 
set out as a note under section 1232c of this title.

                  Section Referred to in Other Sections

    This section is referred to in sections 1232d, 1232e of this title.
