Section 729.720  Records

a)         Providers shall maintain detailed books and records related to grants received and use of the grant funds in accordance with applicable law and generally accepted accounting principles.  Providers shall maintain these books and records for a minimum of five years.  All books and records shall be available for review or audit by the Commission, its representatives, the Illinois Auditor General, and other governmental entities with monitoring authority upon reasonable notice and during normal business hours.  Providers shall cooperate fully with any such review or audit.  If any audit indicates overpayment to a provider, the Commission shall adjust future or final payments otherwise due.  If no payments are due and owed to a provider, or if the overpayment exceeds the amount otherwise due, the provider shall immediately refund all amounts that may be due to the WSEF.

b)         Carriers shall maintain detailed books and records related to surcharges billed and collected by geographic area, and records necessary to support requested reimbursements in accordance with applicable law and generally accepted accounting principles.  Carriers shall maintain these books and records for a minimum of five years.  All books and records shall be available for review or audit by the Commission, its representatives, the Illinois Auditor General, and other governmental entities with monitoring authority upon reasonable notice and during normal business hours.  Carriers shall cooperate fully with any such review or audit.  If any audit indicates overpayment to a carrier, or subcontractor, the Commission shall adjust future or final payments otherwise due.  If no payments are due and owed to a carrier, or if the overpayment exceeds the amount otherwise due, the carrier shall immediately refund all amounts that may be due to the WCRF.