Nurse Faculty Loan Program (NFLP)

Post Assistance Requirements

Reports:
The institution submits the "Nurse Faculty Loan Program Annual Operating Report" annually to the Program Office. The Payment Management Systems (PMS) administered by the Division of Payment Management, Financial Management Services, Program Support Center requires schools to complete and submit the quarterly PMS Form 272 to report NFLP loan disbursements.

Audits:
In accordance with the provisions of OMB Circular No. A-133 (Revised, June 27, 2003), "Audits of States, Local Governments, and Non-Profit Organizations," nonfederal entities that expend financial assistance of $500,000 or more in Federal awards will have a single or a program-specific audit conducted for that year. Nonfederal entities that expend less than $500,000 a year in Federal awards are exempt from Federal audit requirements for that year, except as noted in Circular No. A-133.

Records:
Grantees are required to maintain grant accounting records for a minimum of 3 years after the end of a grant period. If any litigation, claim, negotiation, audit or other action involving the record has been started before the expiration of the 3-year period, the records shall be retained until completion of the action and resolution of all issues which arise from it, or until the end of the regular 3-year period, whichever is later. More detailed information regarding retention requirements are provided in Title 45, CFR, Parts 74 and 92.