49 U.S.C. § 5566 — Records and audits
submitted 32 years ago by Pub. L. 103-272 to r/title-49-TRANSPORTATION · 125 words · no verdicts yet
Recipients of financial assistance under this chapter must keep records showing how the money was used and how project costs were funded. The Secretary and Comptroller General may audit relevant records for three years after completion.
(a) Record Requirements. Each recipient must keep records required by the Secretary showing (1) the amount and disposition of assistance proceeds, (2) total project cost, (3) the part supplied by other sources, and (4) other records that make an effective audit easier. (b) Audits and Inspections. For 3 years after completion, the Secretary and Comptroller General may audit and inspect records either considers related or pertinent to the assistance.
Each recipient of financial assistance under this chapter shall keep records required by the Secretary of Transportation. The records shall disclose—
the amount, and disposition by the recipient, of the proceeds of the assistance;
the total cost of the project for which the assistance was given or used;
the amount of that part of the cost of the project supplied by other sources; and
any other records that will make an effective audit easier.
For 3 years after a project is completed, the Secretary and the Comptroller General may audit and inspect records of a recipient that the Secretary or Comptroller General decides may be related or pertinent to the financial assistance.
Source credit: (Pub. L. 103–272, § 1(d), July 5, 1994, 108 Stat. 853.)
- 1994Enacted · Pub. L. 103-272 · 108 Stat. 853
A history note hasn’t been published yet. The record shows enactment by Pub. L. 103-272 on 1994-07-05.
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