Illinois Administrative Code
Title 35 - ENVIRONMENTAL PROTECTION
Part 887 - GREEN ILLINOIS COMMUNITIES PROGRAM GRANTS
Subpart D - ACCESS, AUDITING AND RECORDS
Section 887.405 - Audit and Records

Universal Citation: 35 IL Admin Code ยง 887.405

Current through Register Vol. 48, No. 38, September 20, 2024

a) The grantee shall maintain books, records, documents, reports and other evidentiary material, using accounting procedures and practices that conform to generally accepted accounting principles and standards, as established by the American Institute of Certified Public Accountants (1211 Avenue of the Americas, New York NY 10036-8775, 212/596-6200) (2001, no later editions or amendments included), to account properly for:

1) The receipt and disposition by the grantee of all financial assistance received for the visioning process from the State and from any other source; and

2) All costs of whatever nature incurred in performance of the visioning process.

b) The grantee's facilities, or such facilities as may be engaged in the performance of the visioning process, and the grantee's records shall be subject to inspection and audit by the Agency or any authorized representative at the times specified in Section 887.400 of this Part.

c) The grantee shall preserve records and make records available to the Agency or any authorized representative:

1) Until expiration of 3 years from the date of final payment under the grant;

2) For such longer period, if any, required by applicable statute or regulation;

3) For records relating to grant work that has been terminated, for a period of 3 years from the date of any resulting final termination settlement or for any longer period required by applicable statute or regulation; or

4) For records relating to disputes and/or appeals, litigation or the settlement of claims arising out of the performance of the visioning process, or costs and expenses of the visioning process to which exception has been taken by the Agency or any of its duly authorized representatives, until disposition of such appeals, litigation, claims, or exceptions.

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