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19 <br /> ij <br /> Section 2: Records Retention Policies <br /> 1. The Subrecipient shall establish and comply with a records retention policy. This policy shall <br /> be made available to the Agency at its request. <br /> 2. Financial records, supporting documentation, statistical records, and all records pertinent to <br /> the subaward shall be retained for a period of five(5)years from the date of the project close <br /> out letter(PG 3.6.1).The only exceptions are as follows: <br /> a. If any litigation, claim or audit is started before expiration of the five(5)year period,the <br /> records shall be retained until the litigation, claims or audit fmdings involving the records <br /> have been resolved and final action taken. <br /> b. Records for real property and equipment acquired with grant Funds shall be retained for <br /> three (3)years after final disposition. <br /> c. When the Subrecipient is notified in writing by the Federal awarding agency, cognizant <br /> agency for audit, oversight agency for audit,cognizant agency for indirect costs, or the <br /> Agency to extend the retention period. <br /> d. If Subrecipient must report program income after the period of performance then it must <br /> comply with 2 C.F.R. §200.333(e). <br /> e. Subrecipient will comply with 2 C.F.R. §200.333 (f)as it relates to retention of records . <br /> for indirect cost rate proposals and cost allocations plans.Under this section the <br /> following types of documents and their supporting records shall be retained: indirect cost <br /> rate computations or proposals,cost allocations plans, and any similarly accounting <br /> computations of the rate at which a particular group of costs is chargeable: 1)if submitted <br /> for negotiation see 2 CFR§200.333(f)(1); if not submitted for negotiation see 2 CFR <br /> §200.333(f)(2). <br /> 3. Notwithstanding the foregoing retention policy, or any other provision of this Agreement, the <br /> Agency,the Federal Awarding Agency,and their authorized representatives,agents' and third- <br /> party contractors'will have access and a right to inspect Subrecipient's site,documents,records <br /> and personnel access for evaluation purposes for as long as records are retained. <br /> Section 3: Confidentiality <br /> The Member must maintain the confidentiality and security of records in compliance with the North <br /> Carolina Identity Theft Protection Act, the Gramm-Leach Bliley Act and other federal and state privacy <br /> laws ("Applicable Laws"). The Applicable Laws pertain to the security and privacy of personal and <br /> financial information along with identifying information such as social security numbers. The Member is <br /> responsible for compliance with the Applicable Laws. In the course of providing services hereunder, the <br /> Member may have access to an individual's confidential information. Confidential Information includes, <br /> but is not limited to, names,personal addresses, credit reports, social security numbers and other personal <br /> identifying information. Confidential Information shall be used by the Member only in conjunction with <br /> Page 14 of 16 <br />