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29 <br /> Section 2: Records Retention Policies <br /> I. 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 findings 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 ofrecords <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 r ight to inspect Subrecipient's site,documents,records <br /> and personnel access for evaluation purposes for as long as records ate 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 />