The Treasury OIG Reporting and Record Retention Requirements, dated July 2, 2020 state that subrecipients of the funds, such as municipalities and fire protection districts, must retain for 5 years, “Records to support compliance with subsection 601(d) may include, but are not limited to, copies of the following:
- General ledger and subsidiary ledgers used to account for
(a) the receipt of Coronavirus Relief Fund payments and
(b) the disbursements from such payments to meet eligible expenses related to the public health emergency due to COVID-19;
- Budget records for 2019 and 2020;
- Payroll, time records, human resource records to support costs incurred for payroll expenses related to addressing the public health emergency due to COVID-19;
- Receipts of purchases made related to addressing the public health emergency due to COVID-19;
- Contracts and subcontracts entered into using Coronavirus Relief Fund payments and all documents related to such contracts;
- Grant agreements and grant sub-award agreements entered into using Coronavirus Relief Fund payments and all documents related to such awards;
- All documentation of reports, audits, and other monitoring of contractors, including subcontractors, and grant recipient and sub-recipients;
- All documentation supporting the performance outcomes of contracts, subcontracts, grant awards, and grant recipient sub-awards;
- All internal and external email/electronic communications related to use of Coronavirus Relief Fund payments; and
- All investigative files and inquiry reports involving Coronavirus Relief Fund payments.”