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required as to both type and value. In-kind contribution reports must be kept on file by <br />the Grantee for three years following the submission of the final financial report. <br />12. PROJECT INCOME <br />a) Re rting Income. All income earned by the Grantee as part of the conduct of the grant <br />project shall be accounted for and reported by the Grantee to Cal Humanities. <br />b) Use of Earned Income. Any income earned from, for example, registration fees, service <br />charges, or admission fees, sales, or similar sources during the conduct of the project <br />shall be used by the Grantee for Cal Humanities approved project activities and should <br />be reported in the final financial report. If the income cannot be so used, it shall be used <br />to decrease charges to the grant and to the Grantee's cost share. <br />As much as possible, public events funded by the grant award, should be free and open to <br />the public. If registration or admission fees are necessary, Grantee agrees to provide <br />access to Cal Humanities staff and board members, free-of-charge, for such events. <br />c) Interest on Grant Funds. Grantees may not earn interest in excess of $250 on grant <br />award funds in a fiscal year. <br />13. AUDM <br />Cal Humanities may inspect and audit the Grantee's financial accounts and records, or may <br />designate a qualified person to do so on its behalf, at any time during reasonable business <br />hours and with such frequency as may be deemed necessary. Inspection and audit may <br />include prefunding visits to determine the adequacy of the Grantee's accounting system. In <br />addition, the National Endowment for the Humanities and the United States General <br />Accounting Office may conduct inspections and audits when and to the extent deemed <br />advisable. <br />FINANCIAL RECORDS MUST BE KEPT ON FILE FOR A MINIMUM OF THREE YEARS <br />FOLLOWING THE TERMINATION OF THE GRANT PERIOD. The required retention <br />period may be extended by written notification from either Cal Humanities or the National <br />Endowment for the Humanities. <br />This requirement also includes the right of the federal government to make an audit of any <br />third party accounts related to the grant. <br />14- DATA COLLECTIO <br />The Grantee may collect information from the public in connection with a research or other <br />general purpose project on its own initiative. The Grantee shall not, without prior approval <br />from Cal Humanities, in any way represent that the information is being collected by or for <br />Cal Humanities or the National Endowment for the Humanities. <br />7 <br />20B-9