By statute, PTFP retains a fiduciary interest in all equipment funded through a PTFP grant for ten years after the project is completed. This section discusses the reports that must be filed and the your station's obligations during this period.

The following summarizes your responsibilities during the Federal interest period:

Annual Reports. Organizations that have received construction grants from PTFP must submit an Annual Status Report for every grant project that is in the ten-year Federal interest period.

Continuation of the Lien. All states, except five, require that liens be renewed after five years.

Retention of Records. This section reviews the records that your organization must keep for three years after the final financial status report has been accepted.

Inspections. Grantees must permit inspections of the PTFP funded equipment or award documents by representatives of the Federal government.

Sectarian Programming. PTFP Rules prohibit the use of PTFP funded equipment for purposes the essential thrust of which are sectarian for the useful life of the equipment.