Section 433.32 - Fiscal policies and accountabilityA State plan must provide that the Medicaid agency and, where applicable, local agencies administering the plan will-
(a) Maintain an accounting system and supporting fiscal records to assure that claims for Federal funds are in accord with applicable Federal requirements;(b) Retain records for 3 years from date of submission of a final expenditure report;(c) Retain records beyond the 3-year period if audit findings have not been resolved; and(d) Retain records for nonexpendable property acquired under a Federal grant for 3 years from the date of final disposition of that property.44 FR 17935, Mar. 23, 1979