571—56.12(456A,481A) Recordkeeping and retention.

1. 56.12(1)  Definition of records. Records include but are not necessarily limited to invoices, canceled checks, bank statements, and bid and quote documentation.
2. 56.12(2)  Annual reports. Grant recipients shall submit on forms provided by the department an annual report for five years following the close of the grant.
3. 56.12(3)  Final performance reports. At the conclusion of the project agreement, grant recipients shall submit on forms provided by the department a final performance report.

Grant recipients shall keep adequate records relating to the administration of the project, particularly relating to all incurred expenses. These records shall be available for audit by representatives of the department and the state auditor’s office for a period of three years following the close of the grant. All records shall be retained in accordance with state laws.

[ARC 9230C, IAB 5/14/25, effective 6/18/25]