Scope of administrative requirements.

§ 1120.500 Scope of administrative requirements. The administrative requirements in an award are post-award and after-the-award requirements for recipients in the following subject matter areas: (a) Financial and program management, to include financial management system standards, payment, allowable costs, program and budget revisions, audits, cost sharing or matching, and program income. (b) Property administration, to include title vesting, property management system standards, and use and disposition of tangible and intangible property. (c) Recipient procurement procedures. (d) Financial, programmatic, property, and other reporting. (e) Records retention and access, remedies, claims and disputes, and closeout.