Audits, Uniform Administrative Requirements, Cost Principles, and Program Income. Uniform Administrative Requirements. Uniform administrative requirements, cost principles, and audit requirements are set forth in Program Regulations. The expenditure threshold requiring an audit is currently $750,000 of Federal funds, but may be adjusted in accordance with the Office of Management and Budget regulations. Audit. TDHCA reserves the right to conduct additional audits of the funds received and performances rendered under this Agreement. Owner agrees to permit TDHCA or its authorized representative to audit Owner’s records and to obtain any documents, materials, or information necessary to facilitate such audit in compliance with the requirements of the Single Audit Act. Program Income. Owner must have sufficient knowledge and experience to indentify and account for program income as defined in 24 CFR Part 85 or 2 CFR §200.80, as applicable. All program income including interest earned on any award supported activity (if it generates program income it has to be accounted for whether it is paid to Owner or TDHCA or is used for a program purposes without pass back to Owner or TDHCA) is subject to the terms and conditions of the original grant and such U. S. Treasury rules as may apply. TDHCA will document receipt of program income, both principal and interest, and how the funds were used.
Audits, Uniform Administrative Requirements, Cost Principles, and Program Income
