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| 1. Record Retention
PIs/PDs should consult the award terms and conditions for guidance on how long to retain documentation of award expenses and project outcomes. Federal sponsors typically require record retention for a minimum of 3 years after submission of the final expenditure report or, if any litigation, claim or audit is started before the end of the 3 years, the records must be retained until the action is closed if longer. See OMB Circular A-110 for more information. For non-federal sponsors, the retention period is usually 3-4 years. |