Common use of RECORDS RETENTION AND AUDITS Clause in Contracts

RECORDS RETENTION AND AUDITS. Each party’s bonds, records, documents, papers, accounting procedures and practices, and other records relevant to this Agreement are subject to the examination, duplication, transcription and audit by the other party, the Legislative Auditor or State Auditor under Minn. Stat. § 16C.05, subd. 5. If any funds provided under this Agreement use federal funds these records are also subject to review by the Comptroller General of the United States and his or her approved representative. Following termination of this Agreement, the parties must keep these records for at least six years or longer if any audit-in-progress needs a longer retention time.

RECORDS RETENTION AND AUDITS. Each party’s bonds, records, documents, papers, accounting procedures and practices, and other records relevant to this Agreement are subject to the examination, duplication, transcription and audit by the other party, the Legislative Auditor or State Auditor under Minn. Stat. § 16C.05, subd. 5. If any funds provided under this Agreement use federal funds these records are also subject to review by the Comptroller General of the United States and his or her approved representative. Following termination of this Agreement, the parties must keep these records for at least six years or longer if any audit-in-in- progress needs a longer retention time.

RECORDS RETENTION AND AUDITS. Each party’s bonds, party shall retain receipts for and maintain detailed records of all expenses related to this Agreement. The Parties records, documents, papers, accounting procedures and practices, and other records relevant to this Agreement are subject to the examination, duplication, transcription and audit by the other party, the Legislative Auditor Auditor, or State Auditor under Minn. Stat. § 16C.05, subd. 5. If any funds provided services under this Agreement use federal funds funds, these records are also subject to review by the Comptroller General of the United States and his or her approved representative. Following termination of this Agreement, Agreement the parties Parties must keep these records for at least six years years, or longer if any audit-in-progress needs a longer retention time.