The procedure is to explain the special record retention requirements governing Federal sponsored projects.
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:
This policy is applicable to accounting records relating to Federal sponsored projects.
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.
Contact the Grants and Contracts Accounting Department at firstname.lastname@example.org for additional guidance related to record retention for Federal sponsored projects at Georgia Tech.
To report suspected instances of noncompliance with this policy, please visit Georgia Tech’s EthicsPoint, a secure and confidential reporting system, at:
|April 2015||Office of Grants & Contracts Accounting||Update per OMB Requirements|
|12-30-14||Office of Grants & Contracts Accounting||Align with requirements of 2 CFR 200|