Section 85.55. Records and audits

(a) Municipalities shall maintain books, records, documents, correspondence and other evidence pertaining to the costs and expenses incurred under § 85.52 (relating to limitation of grants and reimbursements) to the extent and in detail that will properly reflect the costs, direct and indirect, of labor, materials, equipment, supplies and services, and other costs and expenses of whatever nature for which funding has been provided under the grant. The records shall be maintained in accordance with generally accepted accounting principles.

(b) A municipality shall maintain accounting records and supporting documentation which identify the revenue and costs from the effective date to expiration date of the grant. The accounting records shall be maintained in accordance with generally accepted accounting practices.

The provisions of this § 85.55 amended September 18, 2009, effective September 19, 2009, 39 Pa.B. 5415. Immediately preceding text appears at serial pages (234490) to (234491).