3 AAC 107.380. Inspection of records and facilities; audits and examinations

(a) Each applicant for a grant under 3 AAC 107.300 - 3 AAC 107.430 and each grant recipient under 3 AAC 107.300 - 3 AAC 107.430 shall agree to make its books and records, facilities, and real and personal property of any kind, available for inspection at any reasonable time by the authority or its agents upon receipt by the applicant or grant recipient of a written request to inspect at any time while the applicant's application is pending with the authority and at any time up to one year after the most recent disbursement of grant proceeds to the recipient.

(b) The authority or its agents may inspect, upon reasonable notice, the construction of any project that is being financed, in whole or in part, with a grant under 3 AAC 107.300 - 3 AAC 107.430.

(1) at reasonable times during the applicable time period described in (a) of this section, and upon written request from the authority, submit to an audit or examination of the recipient's book and records by an independent firm of certified public accountants selected by the authority, in order to determine whether the provisions of the grant agreement have been complied with and, except as limited by 2 AAC 45.010, shall pay the cost of the audits or examinations;

(2) upon written request from the authority, submit a sworn statement by a responsible officer of the recipient as to the purposes to which the grant proceeds have been applied.

(d) An inspection, audit, or examination under this section is only for purposes of compliance with the requirements of AS 42.45.100 and 42.45.180 and 3 AAC 107.300 - 3 AAC 107.430.

History: Eff. 6/29/94, Register 131; am 11/25/94, Register 132

Authority: AS 42.45.100

AS 42.45.180

AS 44.83.080

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