§ 68214. Auditing of Expenditure of Loan Proceeds.

(a) The Department, Department of Finance, State Controller or State Auditor, or their designated representatives, may audit the expenditure of the proceeds of any Loan disbursed under this article; and

(b) The Borrower shall allow the Administering Agency and the Department, if the Department is not the Administering Agency, and other State agencies, including the State Controller and the State Auditor, or their designated representatives, absolute right of access to all of the Borrower's records pertaining to the Loan Agreement. Any portion of the Borrower's records requested shall be made available to the designated auditors upon request. The Borrower shall retain all relevant financial records for at least three (3) years after termination of the Loan Agreement, or until completion of actions and resolution of all issues that may arise as a result of any litigation, claim, negotiation or audit concerning the Loan Agreement, ISCP Environmental Oversight Agreement, or CLEAN Loan Program Response Action Agreement or other enforceable agreement required by the Administering Agency, whichever is later.

HISTORY

1. Certificate of Compliance as to 3-31-2002 order, including renumbering and amendment of former section 68213 and Appendix 1 to section 68214, transmitted to OAL 6-21-2002 and filed 8-5-2002 (Register 2002, No. 32).

2. Change without regulatory effect amending first paragraph of Appendix 1 filed 7-20-2009 pursuant to section 100, title 1, California Code of Regulations (Register 2009, No. 30).

Note

Note: Authority cited: Sections 25150, 25351.5, 25395.29 and 58012, Health and Safety Code. Reference: Sections 25395.21, 25395.22, 25395.27 and 25395.28, Health and Safety Code.