welcome to the Illinois Department of Commerce and Economic Opportunity grantee training in this presentation we will discuss Grant records retention we will discuss what records to retain record retention time frame record accessibility the collection and storage of records and the consequences of non-compliance record retention is the process of deciding what records should be kept how long to keep them who will have access to them and how they are to be stored all grants passing through the state of Illinois are subject to record retention requirements record retention should tell the complete story of how Grant funds were spent let's review the types of documents that are subject to record retention financial documents such as Source documents paid bills bank statements and cancel checks payroll time and attendance records contracts and subrecipient agreements and copies of prior authorization of funds proc procurement records including the procurement method rationale backup documents for contractor selection or rejection cost analysis for contract purchases and documentation of Prior approval if required for any purchase real property and Equipment records such as the description of the property the cost and source of the property such as the vendor's name and contact information documentation of who owns the property and the date the property was acquired and the percentage of Grant funds used for the purchase all other records pertinent to the grant award should be retained as well including indirect cost rate proposals subrecipient monitoring documentation program reports that support your accomplishments and compliance documentation article 9 of the grant agreement states in general all Grant related records must be retained for at least 3 years from the final closeout report submitt date but there are exceptions if any audit monitoring claim or litigation is started within that time frame all records need to be kept until a release is received or the litigation has been resolved 2 CFR 2 200 elaborates to include real property and Equipment which must be retained for 3 years after disposal of the property negotiated indirect cost rates have a three-year retention period beginning on the date of submission indirect cost rates not requiring submission have a three-year retention period beginning at the end of the fiscal year that was covered by The Proposal the grant agreement states the grantee is required to allow any agent of the granter access to all records related to the grant this includes books records and all backup documentation it also includes access to relevant Personnel who may be needed to clarify information full cooperation is expected of the grantee regarding any audit or inquiries it's important to note the right to access lasts as long as the records are maintained for example if you keep your records for 5 years the granter has access rights for the full 5 Years also beware aware that banks have record retention policies as well these policies may be shorter than State Grant requirements for this reason it is important for grantees to maintain copies of all bank statements and cancel checks inous the preferred method of collection transmission and storage of Records is electronic but paper records are acceptable if legible scan copies can be submitted for review personally identifiable information or pii must be considered in the retention process pii is information that can be used to determine or trace an individual's identity utilizing personal information including Social Security numbers driver's license numbers full name personal financial information and medical records either alone or combined these records need special consideration to safeguard their security such as password protected computers with limited access to records and a secure electronic transmission process using encryption and paper storage of documents doents which would include limited access locked filing systems and or locked storage areas the grant agreement addresses the failure to retain complete records the grantee has the burden of proof that Grant funds were spent correctly this means it is up to the grantee to furnish any and all documentation requested pertaining to the grant any records not maintained could lead to a refund of grant money applicable to those records record retention should tell the complete story of how Grant funds were spent it is important to keep all records pertinent to the grant readily available for the full retention period review your Grant agreement for program specific record retention requirements provide access to the granter for monitoring and auditing requirements including access to Key Personnel remember the grantee is solely responsible for complete record retention and failure to comply with retention requirements could lead to the refund of Grant funds related to the incomplete files it is important to safeguard all personal identifiable information information contact your Grant manager with questions regarding record retention to learn more about record retention please visit the dceo resource page you can use your mobile device to scan the QR code on the screen or visit at dce eo. illinois.gov dceo dgrs thank you for watching this presentation on record retention if you have questions please contact ceo. grel illinois.gov