Fordham University            The Jesuit University of New York
 


Back to Financial Administration

Retention of Grant Documents










Retention of Grant Documents


Type of Gran
Description of Record
Recommended Retention Period
Federal Grant In general, the federal retention is three years, starting, with some exceptions, with the date of submission of the final or annual expenditure report, or, for property and equipment records, the date of transfer, replacement, sale or junk of the item.
Records under audit, involving unresolved audit findings, or under appeals or litigation must be held until the action is completed or the dispute resolved.
Note: A federal agency cannot require a grantee to retain program records for more than six years. The statute of limitations, 28 U.S.C. 2415(b), provides that an action to recover for diversion of money paid under a grant program or an action for conversion of property of the U.S. must be brought within six years after the right of action accrues.
Note that grantees do NOT have to hold and maintain records until they are audited; instead, they only need to hold them long enough to satisfy the three-year retention period. As a consequence, any records held beyond the minimum three-year retention period because of state law or the grantee's normal requirements are subject to review and audit.
Grantees are permitted to retain records on microfilm instead of original records. We have assumed that this ruling will eventually be extended to cover electronic imaging, if it has NOT been already.
Note: NYS requirements are for six years. Presumably this would apply to Federal flow-through grants from New York state.
6 Years
New York State Grants The New York State Department of Social Services Contract Operations Manual (Rev 10/96) states the "Accounting and other fiscal record, although NOT required with the submission of vouchers, must be retained for a fixed period of years as required by each contract, usually six years. 6 Years

Site  | Directories
Submit Search Request