Common use of AUDITS, RECORDS, REPORTS, AND INSPECTIONS Clause in Contracts

AUDITS, RECORDS, REPORTS, AND INSPECTIONS. If Sub-grantee expends $750,000 or more in federal awards during the Sub-grantee’s fiscal year it must submit its single audit to the IHCDA within the earlier of thirty (30) days after receipt of the auditor’s report(s), or nine (9) months after the end of the audit period. If the Sub-grantee expends less than $750,000 in federal awards it must submit its audited financial statements or 990 (IRS Form 990, Return of Organization Exempt From Income Tax) to IHCDA within the earlier of thirty (30) days after receipt of the auditor’s report(s), or nine (9) months after the end of the audit period.

AUDITS, RECORDS, REPORTS, AND INSPECTIONS. A. If Sub-grantee expends $750,000 500,000 or more in federal awards during the Sub-Sub- grantee’s fiscal year it must submit its single audit to the IHCDA within the earlier of thirty (30) days after receipt of the auditor’s report(s), or nine (9) months after the end of the audit period. If the Sub-grantee expends less than $750,000 500,000 in federal awards it must submit its audited financial statements or 990 (IRS Form 990, Return of Organization Exempt From Income Tax) to IHCDA within the earlier of thirty (30) days after receipt of the auditor’s report(s), or nine (9) months after the end of the audit period.

AUDITS, RECORDS, REPORTS, AND INSPECTIONS. If Sub-grantee expends $750,000 500,000 or more in federal awards during the Sub-grantee’s fiscal year it must submit its single audit to the IHCDA within the earlier of thirty (30) days after receipt of the auditor’s report(s), or nine (9) months after the end of the audit period. If the Sub-grantee expends less than $750,000 500,000 in federal awards it must submit its audited financial statements or 990 (IRS Form 990, Return of Organization Exempt From Income Tax) to IHCDA within the earlier of thirty (30) days after receipt of the auditor’s report(s), or nine (9) months after the end of the audit period.

AUDITS, RECORDS, REPORTS, AND INSPECTIONS. A. If Sub-grantee expends $750,000 or more in federal awards during the Sub-grantee’s fiscal year it must have a single audit conducted in accordance with 2 CFR 200.501 and submit its single audit to the IHCDA within the earlier of thirty (30) days after receipt of the auditor’s report(s), or nine (9) months after the end of the audit period. If the Sub-grantee expends less than $750,000 in federal awards it must submit its audited financial statements or 990 (IRS Form 990, Return of Organization Exempt From Income Tax) to IHCDA within the earlier of thirty (30) days after receipt of the auditor’s report(s), or nine (9) months after the end of the audit period.