49 U.S.C. § 47121

(a) Records .— A sponsor shall keep the records the Secretary of Transportation requires. The Secretary may require records— (1) that disclose— (A) the amount and disposition by the sponsor of the proceeds of the grant; (B) the total cost of the plan or program for which the grant is given or used; and (C) the amounts and kinds of costs of the plan or program provided by other sources; and (2) that make it easier to carry out an audit. (b) Audits and Examinations .— The Secretary and the Comptroller General may audit and examine records of a sponsor that are related to a grant made under this subchapter. (c) Authority of Comptroller General .— When an independent audit is made of the accounts of a sponsor under this subchapter related to the disposition of the proceeds of the grant or related to the plan or program for which the grant was given or used, the sponsor shall submit a certified copy of the audit to the Secretary not more than 6 months after the end of the fiscal year for which the audit was made. The Comptroller General may report to Congress describing the results of each audit conducted or reviewed by the Comptroller General under this section during the prior fiscal year. (d) Audit Requirement .— The Secretary may require a sponsor to conduct an appropriate audit as a condition for receiving a grant under this subchapter. (e) Annual Review .— The Secretary shall review annually the recordkeeping and reporting requirements under this subchapter to ensure that they are the minimum necessary to carry out this subchapter. (f) Withholding Information From Congress .— This section does not authorize the Secretary or the Comptroller General to withhold information from a committee of Congress authorized to have the information.