Cooperation with Monitoring, Audits and Records Requirements. All records and expenditures are subject to, and xxxxxxx agrees to comply with, monitoring and/or audits conducted by the United States Department of Treasury’s Inspector General (DOTIG), DFA, and the State Auditor’s Office (SAO) or designee. The grantee shall maintain under GAAP or GASB, adequate records that enable DOTIG, DFA, and SAO to ensure proper accounting for all costs and performances related to this Grant Agreement. SLFRF recipients that are pass-through entities as described under 2 CFR 200.1 are required to manage and monitor their subrecipients to ensure compliance with requirements of the SLFRF award pursuant to 2 CFR 200.332 regarding requirements for passthrough entities. Your organization is deemed to be receiving a subaward of SLFRF funds and is therefore a subrecipient. Each subrecipient’s risk of noncompliance will need to be evaluated based on a set of common factors. These risk assessments may include factors such as prior experience in managing Federal funds, previous audits, personnel, and policies or procedures for award execution and oversight. Accordingly, your organization should develop written policies and procedures to allow for subrecipient monitoring and risk assessment. Any grantee expending $750,000 or more in federal funds in a fiscal year may be subject to Single Audit Requirements in 2 CFR, Part 200, Subpart F – Audit Requirements, at xxxxx://xxx.xxxx.xxx/cgi-bin/text- idx?tpl=/ecfrbrowse/Title02/2cfr200_main_02.tpl.
Appears in 4 contracts
Samples: Grant Agreement, Grant Agreement, Grant Agreement
