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736 

14 CFR Ch. I (1–1–24 Edition) 

§ 152.309 

(b) Evidence of all payments for 

items of project costs, including vouch-
ers, cancelled checks or warrants, and 
receipts for cash payments. 

§ 152.309 Availability of sponsor’s 

records. 

(a) The sponsor or planning agency 

shall allow any authorized representa-
tive of the Administrator, the Sec-
retary of Transportation, or the Comp-
troller General of the United States ac-
cess to any of its books, documents, pa-
pers, and records that are pertinent to 
grants received under this part for the 
purposes of accounting and audit. 

(b) The sponsor or planning agency 

shall allow appropriate FAA or DOT 
representatives to make progress au-
dits at any time during the project, 
upon reasonable notice to the sponsor 
or planning agency. 

(c) It audit findings have not been re-

solved, the applicable records shall be 
retained by the sponsor or planning 
agency until those findings have been 
resolved. 

(d) Records for nonexpendable prop-

erty that was acquired with Federal 
funds shall be retained for three years 
after final disposition of the property. 

(e) Microfilm copies of original 

records may be substituted for original 
records with the approval of the FAA. 

(f) If the FAA determines that cer-

tain records have long-term retention 
value, the FAA may require transfer of 
custody of those records to the FAA. 

§ 152.311 Availability of contractor’s 

records. 

The sponsor or planning agency shall 

include in each contract of the cost re-
imbursable type a clause that allows 
any authorized representative of the 
Administrator, the Secretary of Trans-
portation, or the Comptroller General 
of the United States access to the con-
tractor’s records pertinent to the con-
tract for the purposes of accounting 
and audit. 

§ 152.313 Property management stand-

ards. 

(a) The sponsor shall establish and 

maintain property management stand-
ards in accordance with Attachment N 
of Office of Management and Budget 
Circular A–102 (42 FR 45828) for the uti-

lization and disposition of property fur-
nished by the Federal Government, or 
acquired in whole or in part by the 
sponsor with Federal funds. 

(b) A sponsor may use its own prop-

erty management standards and proce-
dures as long as the standards required 
by paragraph (a) of this section are in-
cluded. 

§ 152.315 Reporting on accrual basis. 

(a) Except as provided in paragraph 

(b) of this section each sponsor or plan-
ning agency shall submit all financial 
reports on an accrual basis. 

(b) If records are not maintained on 

an accrual basis by a sponsor or plan-
ning agency, reports may be based on 
an analysis of records or best esti-
mates. 

§ 152.317 Report of Federal cash trans-

actions. 

When funds are advanced to a spon-

sor or planning agency by Treasury 
check, the sponsor or planning agency 
shall submit the report form prescribed 
by the Administrator within 15 work-
ing days following the end of the quar-
ter in which check was received. 

§ 152.319 Monitoring and reporting of 

program performance. 

(a) The sponsor or planning agency 

shall monitor performance under the 
project to ensure that— 

(1) Time schedules are being met; 
(2) Work units projected by time peri-

ods are being accomplished; and, 

(3) Other performance goals are being 

achieved. 

(b) Reviews shall be made for— 
(1) Each item of development or work 

element included in the project; and 

(2) All other work to be performed as 

a condition of the grant agreement. 

(c) 

Airport development. 

Unless other-

wise requested by the Administrator, 
the sponsor of a project for airport de-
velopment shall submit a performance 
report, on an annual basis, that must 
include— 

(1) A comparison of actual accom-

plishments to the goals established for 
the period, made, if applicable, on a 
quantitative basis related to cost data 
for computation of unit costs;