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51 <br /> Record Retention Policy: Documents Created or Maintained Pursuant to the <br /> ARP/CSLFRF Award <br /> Retention of Records: The Coronavirus Local Fiscal Recovery Funds ("CSLFRF") Award <br /> Terms and Conditions and the Compliance and Reporting Guidance set forth the U.S. <br /> Department of Treasury's ("Treasury") record retention requirements for the ARP/CSLFRF <br /> award. <br /> It is the policy of Orange County to follow Treasury's record retention requirements as it <br /> expends CSLFRF pursuant to the APR/CSLFRF award. Accordingly, Orange County agrees to <br /> the following: <br /> • Retain all financial and programmatic records related to the use and expenditure of <br /> CSLFRF pursuant to the ARP/CSLFRF award for a period of five (5) years after all <br /> CLFRF funds have been expended or returned to Treasury,whichever is later. <br /> • Retain records for real property and equipment acquired with CSLFRF for five years <br /> after final disposition. <br /> • Ensure that the financial and programmatic records retained sufficiently evidence <br /> compliance with section 603(c) of the Social Security Act"ARPA," Treasury's <br /> regulations implementing that section, and guidance issued by Treasury regarding the <br /> foregoing. <br /> • Allow the Treasury Office of Inspector General and the Government Accountability <br /> Office, or their authorized representatives,the right of timely and unrestricted access to <br /> any records for the purpose of audits or other investigations. <br /> • If any litigation, claim, or audit is started before the expiration of the 5-year period, the <br /> records will be retained until all litigation, claims, or audit findings involving the records <br /> have been resolved. <br /> Covered Records: For purposes of this policy, records are information, regardless of physical <br /> form or characteristics, that are created, received, or retained that evidence Orange County's <br /> expenditure of CSLFRF funds on eligible projects, programs, or activities pursuant to the <br /> ARP/CSLFRF award. <br /> Records that shall be retained pursuant to this policy include, but are not limited to, the <br /> following: <br /> • Financial statements and accounting records evidencing expenditures of CSLFRF for <br /> eligible projects,programs, or activities. <br />