Common use of Audits and Financial Statements Clause in Contracts

Audits and Financial Statements. (a) CENTER shall provide the City with its annual financial statement within ninety (90) days of the end of its operating year. This financial statement shall be prepared by an actively licensed public accountant. (b) In addition, if expending more than $500,000 of Federal awards during an operating year, CENTER shall comply with the audit provisions contained in OMB Circular A-133, 24 CFR §84.26 and the Single Audit Act Amendments of 1996 (31 U.S.C. §§7501-7507). Audits shall be conducted annually. CENTER shall submit its annual audit to the City and within one hundred twenty (120) days of the end of CENTER’s fiscal year. CENTER must clear any deficiencies noted in the audit reports within 30 days after receipt of any noted deficiencies. In the event the audit shows that the entire funds disbursed hereunder, or any portion thereof, were not expended in accordance with the conditions of this Agreement, CENTER shall be held liable for reimbursement to the City of all funds not expended in accordance with those regulations and Agreement provisions within thirty (30) days after City has notified CENTER of such non-compliance. Any reimbursement by CENTER shall not preclude the City from taking any other action or pursuing other remedies. Failure to comply with these audit requirements constitutes a violation of the Agreement and may result in the withholding of future payments. (c) CENTER also agrees to allow the City's Internal Audit and Evaluation Department to conduct any audits or financial monitoring the City feels necessary at any time during the term of this Agreement or pursuant to any HUD request.

Audits and Financial Statements. (a) CENTER Coalition shall comply with 2 CFR part 200 Subpart F – Audits. In accordance with 2 CFR §200.510, Coalition shall prepare financial statements and a schedule of expenditures of federal awards. Coalition shall provide the City with its annual financial statement within ninety (90) days of the end of its operating year. This financial statement shall be prepared by an actively licensed public accountant. (b) In addition, if expending more than $500,000 750,000 of Federal awards during an operating year, CENTER Coalition shall comply with the audit provisions contained in OMB Circular A-133, 24 2 CFR §84.26 subpart F and the Single Audit Act Amendments of 1996 (31 U.S.C. §§7501-7507). Audits shall be conducted annually. CENTER Coalition shall submit its annual audit to the City and within one hundred twenty (120) days of the end of CENTERCoalition’s fiscal year. CENTER Coalition must clear any deficiencies noted in the audit reports within 30 days after receipt of any noted deficiencies. In the event the audit shows that the entire funds disbursed hereunder, or any portion thereof, were not expended in accordance with the conditions of this Agreement, CENTER Coalition shall be held liable for reimbursement to the City of all funds not expended in accordance with those regulations and Agreement provisions within thirty (30) days after City has notified CENTER Coalition of such non-compliance. Any reimbursement by CENTER Coalition shall not preclude the City from taking any other action or pursuing other remedies. Failure to comply with these audit requirements constitutes a violation of the Agreement and may result in the withholding of future payments. If Coalition expends less than $750,000 in federal awards during its fiscal year, they are exempt from this requirement, except as noted in 2 CFR §200.503, but records must be available for review or audit by appropriate officials of HUD, the City, or GAO. (c) CENTER Coalition also agrees to allow the City's Internal Audit and Evaluation Department Department, or any of the City’s other departments or representatives, to conduct any audits or financial monitoring the City feels necessary at any time during the term of this Agreement or pursuant to any HUD request.

Audits and Financial Statements. (a) CENTER MINISTRY shall provide the City with its annual financial statement within ninety (90) days of the end of its operating year. This financial statement shall be prepared by an actively licensed public accountant. (b) In addition, if expending more than $500,000 of Federal awards during an operating year, CENTER MINISTRY shall comply with the audit provisions contained in OMB Circular A-133XXX Xxxxxxxx X-000, 24 CFR 00 XXX §84.26 and the Single Audit Act Amendments of 1996 (31 U.S.C. §§7501-7507). Audits shall be conducted annually. CENTER MINISTRY shall submit its annual audit to the City and within one hundred twenty (120) days of the end of CENTERMINISTRY’s fiscal year. CENTER MINISTRY must clear any deficiencies noted in the audit reports within 30 days after receipt of any noted deficiencies. In the event the audit shows that the entire funds disbursed hereunder, or any portion thereof, were not expended in accordance with the conditions of this Agreement, CENTER MINISTRY shall be held liable for reimbursement to the City of all funds not expended in accordance with those regulations and Agreement provisions within thirty (30) days after City has notified CENTER MINISTRY of such non-compliance. Any reimbursement by CENTER MINISTRY shall not preclude the City from taking any other action or pursuing other remedies. Failure to comply with these audit requirements constitutes a violation of the Agreement and may result in the withholding of future payments. (c) CENTER MINISTRY also agrees to allow the City's Internal Audit and Evaluation Department to conduct any audits or financial monitoring the City feels necessary at any time during the term of this Agreement or pursuant to any HUD request.

Audits and Financial Statements. (a) CENTER Subrecipient shall provide the City with its annual financial statement within ninety (90) days of the end of its operating year. This financial statement shall be prepared by an actively licensed certified public accountant. (b) In addition, if expending more than $500,000 750,000 of Federal awards during an operating year, CENTER Subrecipient shall comply with the audit provisions contained in 2 CFR 200, Subpart F, OMB Circular A-133X-000, 24 CFR 00 XXX §84.26 85.26 and the Single Audit Act Amendments of 1996 (31 U.S.C. §§7501-7507), as required. Audits shall be conducted annually. CENTER Subrecipient shall submit its annual audit to the City and within one hundred twenty (120) days of the end of CENTERSubrecipient’s fiscal year. CENTER must clear any deficiencies noted in the audit reports within 30 days after receipt of any noted deficiencies. In the event the audit shows that the entire funds disbursed hereunder, or any portion thereof, were not expended in accordance with the conditions of this Agreement, CENTER Subrecipient shall be held liable for reimbursement to the City of all funds not expended in accordance with those regulations and Agreement provisions within thirty (30) days after City has notified CENTER Subrecipient of such non-compliance. Any reimbursement by CENTER Subrecipient shall not preclude the City from taking any other action or pursuing other remedies. Failure to comply with these audit requirements constitutes a violation of the Agreement and may result in the withholding of future payments. (c) CENTER Subrecipient also agrees to allow the City's Internal Audit and Evaluation Department or other City authorized representatives to conduct any audits or financial monitoring the City feels necessary at any time during the term of this Agreement or pursuant to any HUD request.

Audits and Financial Statements. (a) CENTER shall provide the City with its annual financial statement within ninety (90) days of the end of its operating year. This financial statement shall be prepared by an actively licensed public accountant. (b) In addition, if expending more than $500,000 of Federal awards during an operating year, CENTER shall comply with the audit provisions contained in OMB Circular A-133XXX Xxxxxxxx X-000, 24 CFR 00 XXX §84.26 and the Single Audit Act Amendments of 1996 (31 U.S.C. §§7501-7507). Audits shall be conducted annually. CENTER shall submit its annual audit to the City and within one hundred twenty (120) days of the end of CENTER’s fiscal year. CENTER must clear any deficiencies noted in the audit reports within 30 days after receipt of any noted deficiencies. In the event the audit shows that the entire funds disbursed hereunder, or any portion thereof, were not expended in accordance with the conditions of this Agreement, CENTER shall be held liable for reimbursement to the City of all funds not expended in accordance with those regulations and Agreement provisions within thirty (30) days after City has notified CENTER of such non-compliance. Any reimbursement by CENTER shall not preclude the City from taking any other action or pursuing other remedies. Failure to comply with these audit requirements constitutes a violation of the Agreement and may result in the withholding of future payments. (c) CENTER also agrees to allow the City's Internal Audit and Evaluation Department to conduct any audits or financial monitoring the City feels necessary at any time during the term of this Agreement or pursuant to any HUD request.

Audits and Financial Statements. (a) CENTER Center shall comply with 2 CFR part 200 Subpart F – Audits. In accordance with 2 CFR §200.510, Center shall prepare financial statements and a schedule of expenditures of federal awards. Center shall provide the City with its annual financial statement within ninety (90) days of the end of its operating year. This financial statement shall be prepared by an actively licensed public accountant. (b) In addition, if expending more than $500,000 750,000 of Federal awards during an operating year, CENTER Center shall comply with the audit provisions contained in OMB Circular A-133, 24 2 CFR §84.26 subpart F and the Single Audit Act Amendments of 1996 (31 U.S.C. §§7501-7507). Audits shall be conducted annually. CENTER Center shall submit its annual audit to the City and within one hundred twenty (120) days of the end of CENTERCenter’s fiscal year. CENTER Center must clear any deficiencies noted in the audit reports within 30 days after receipt of any noted deficiencies. In the event the audit shows that the entire funds disbursed hereunder, or any portion thereof, were not expended in accordance with the conditions of this Agreement, CENTER Center shall be held liable for reimbursement to the City of all funds not expended in accordance with those regulations and Agreement provisions within thirty (30) days after City has notified CENTER Center of such non-compliance. Any reimbursement by CENTER Center shall not preclude the City from taking any other action or pursuing other remedies. Failure to comply with these audit requirements constitutes a violation of the Agreement and may result in the withholding of future payments. If Center expends less than $750,000 in federal awards during its fiscal year, they are exempt from this requirement, except as noted in 2 CFR §200.503, but records must be available for review or audit by appropriate officials of HUD, the City, or GAO. (c) CENTER Center also agrees to allow the City's Internal Audit and Evaluation Department Department, or any of the City’s other departments or representatives, to conduct any audits or financial monitoring the City feels necessary at any time during the term of this Agreement or pursuant to any HUD request.