Actuarial Reports Promptly upon receipt thereof by any Loan Party or any ERISA Affiliate, a copy of the annual actuarial valuation report for each Plan the funded current liability percentage (as defined in Section 302(d)(8) of ERISA) of which is less than 90% or the unfunded current liability of which exceeds $5,000,000.
Audit Report Annually provide the SELPA with the LEA’s annual, independent financial audit report, on or before December 20th each year, unless an extension has been granted by the State Controller’s Office, in which case an extension will be granted to the charter as well. LEA further agrees to provide SELPA copies of any and all State Controller’s Office communications regarding audit report corrective actions and a corrected audit report, if applicable. Should an LEA be the subject of an investigation by any federal, state, or local agency, including but not limited to the Fiscal Crisis Management and Assistance Team (“FCMAT”) arising out of or related to allegations of fiscal mismanagement, failure to meet generally accepted accounting principles, or any violation of a provision of law, the LEA shall immediately notify SELPA and provide the SELPA with a copy of any written correspondence related thereto.