Section 600.251 - Later disallowances and adjustmentsThe closeout of a grant does not affect:
(a) The Federal agency's right to disallow costs and recover funds on the basis of a later audit or other review;(b) The grantee's obligation to return any funds due as a result of later refunds, corrections, or other transactions;(c) Records retention as required in § 600.242 ;(d) Property management requirements in §§ 600.231 and 600.232 ; and(e) Audit requirements in § 600.226 .53 FR 8045, 8087, Mar. 11, 1988. Redesignated at 59 FR 53264, Oct. 21, 1994, as amended at 61 FR 7166, Feb. 26, 1996