NAC701.695. Recordkeeping and accounting requirements for qualified applicants who receive loans.

Each qualified applicant who receives a loan from the Account shall:

     1. Establish a dedicated file for the project. The file must contain an adequate record of all significant actions relating to the project.

     2. Establish accounts that accurately and adequately show all amounts of money:

     (a) Received as financial assistance from the Account;

     (b) Received and spent on the project; and

     (c) Received as income from the project.

     3. Establish a system of accounting which ensures that the final total costs of the project, including all direct and indirect costs, are recorded accurately.

     4. Establish and maintain such other accounts and records as are required by the Director and required for compliance with the requirements for reporting established by the Federal Government.

     5. Retain all records relating to the project for at least 3 years after final repayment of financial assistance has been made or for any longer period required by the Director.

     6. Make any records relating to the project available at any reasonable time for inspection or copying by any authorized representative of the Director.

     (Added to NAC by Office of Energy by R161-09, eff. 6-30-2010; A by R063-11, 2-15-2012)