Record Retention - Federal Sponsored Projects

Policy No: 
3.20
Type of Policy: 
Administrative
Effective Date: 
December 2014
Last Revised: 
April 2015
Review Date: 
April 2018
Policy Owner: 
Office of Grants and Contracts Accounting
Contact Name: 
Sandra Mason
Contact Title: 
Senior Director
Contact Email: 
sandy.mason@business.gatech.edu
Reason for Policy: 

The procedure is to explain the special record retention requirements governing Federal sponsored projects.

Policy Statement: 

Georgia Tech is a unit of the Board of Regents of the University System of Georgia (USG).  The Institute follows the official USG Records Retention guidelines.  These guidelines (including retention periods) can be found at the following web link:

http://www.usg.edu/records_management/schedules/A

Scope: 

This policy is applicable to accounting records relating to Federal sponsored projects.

Procedures: 

Standard payroll, procurement, accounts payable, travel, and general accounting supporting documentation is maintained centrally in accordance with USG retention guidelines.

P-Card, Electronic Cost Transfer (ECT) and other subsidiary expenditure documentation is maintained at the local unit level.

Additional Retention Requirements – Federal Sponsored Projects

Central sponsored program files, including award documentation, financial reports and summarized accounting system information are retained in accordance with the Office of Management and Budget (OMB) Uniform Administrative Requirements, Cost Principles, and Audit Requirements (2 CFR 200), Section 200.333 – 200.337 – “Record Retention and Access”. Section 200.333, Retention requirements for records, states financial records, supporting documents, statistical records, and all other non-Federal entity records pertinent to an award must be retained for a period of three years from the date of submission of the finial expenditure report** or, for Federal awards that are renewed quarterly or annually, from the date of the submission of the quarterly or annual financial report, respectively, as reported to the Federal awarding agency or pass-through entity in the case of a subrecipient.

Detailed Federal sponsored project expense records that exceed the USG/Institute retention period should be maintained by the home department of the Project/Sub-Project Principle Investigator in accordance with 2 CFR 200 requirements.

**Final Expenditure Reports are typically due 60-90 days after the final expiration date of the sponsored award.

Responsibilities: 

Contact the Grants and Contracts Accounting Department at gc.ask@business.gatech.edu for additional guidance related to record retention for Federal sponsored projects at Georgia Tech.

Enforcement: 

To report suspected instances of noncompliance with this policy, please visit Georgia Tech’s EthicsPoint, a secure and confidential reporting system, at:
https://secure.ethicspoint.com/domain/en/report_custom.asp?clientid=7508

Policy History: 
Revision Date Author Description
April 2015Office of Grants & Contracts AccountingUpdate per OMB Requirements
12-30-14Office of Grants & Contracts AccountingAlign with requirements of 2 CFR 200
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