State, regional, and subject-oriented media are also appropriate. Electronic postings are encouraged. Grant recipients must keep financial records for each grant in accordance with generally accepted accounting practices. In other words, you must be able to show how you spent the money in a clearly understandable manner. These and other program records are subject to inspection and audit by authorized Federal agencies at all reasonable times during the grant period and for three years thereafter.
Federal regulations specify standards for grant recipients' financial management systems.
For institutions of higher learning, hospitals, and other non-profit organizations, financial systems must meet seven key financial management standards. A reasonable portion of grant funds, as defined in the OMB circular, may be used to comply with audit requirements. The Commission prefers that grant recipients assume such costs as institutional cost sharing. Yes, there are. Please see 36 CFR 1207 or 1210 as applicable.