Common use of FINANCIAL AUDIT REPORT REQUIREMENTS FOR PASS-THROUGH ENTITIES Clause in Contracts

FINANCIAL AUDIT REPORT REQUIREMENTS FOR PASS-THROUGH ENTITIES. A. If County determines that Contractor is a “subrecipient” (also known as a “pass- through entity”) as defined in 2 C.F.R. § 200 et seq., Contractor represents that it will comply with the applicable cost principles and administrative requirements including claims for payment or reimbursement by County as set forth in 2 C.F.R. § 200 et seq., as may be amended from time to time. Contractor shall observe and comply with all applicable financial audit report requirements and standards. B. Financial audit reports must contain a separate schedule that identifies all funds included in the audit that are received from or passed through the County. County programs must be identified by Agreement number, Agreement amount, Agreement period, and the amount expended during the fiscal year by funding source. C. Contractor will provide a financial audit report including all attachments to the report and the management letter and corresponding response within six months of the end of the audit year to the Director. The Director is responsible for providing the audit report to the County Auditor. D. Contractor must submit any required corrective action plan to the County simultaneously with the audit report or as soon thereafter as it is available. The County shall monitor implementation of the corrective action plan as it pertains to services provided pursuant to this Agreement.

FINANCIAL AUDIT REPORT REQUIREMENTS FOR PASS-THROUGH ENTITIES. A. If County determines that Contractor is a “subrecipient” (also known as a “pass- pass-through entity”) as defined in 2 C.F.R. § 200 et seq., Contractor represents that it will comply with the applicable cost principles and administrative requirements including claims for payment or reimbursement by County as set forth in 2 C.F.R. § 200 et seq., as may be amended from time to time. Contractor shall observe and comply with all applicable financial audit report requirements and standards. B. Financial audit reports must contain a separate schedule that identifies all funds included in the audit that are received from or passed through the County. County programs must be identified by Agreement contract number, Agreement contract amount, Agreement contract period, and the amount expended during the fiscal year by funding source. C. Contractor will provide a financial audit report including all attachments to the report and the management letter and corresponding response within six months of the end of the audit year to the DirectorDirector or designee. The Director or designee is responsible for providing the audit report to the County Auditor. D. Contractor must submit any required corrective action plan to the County Department simultaneously with the audit report or as soon thereafter as it is available. The County Department shall monitor implementation of the corrective action plan as it pertains to services provided pursuant to this Agreement.

FINANCIAL AUDIT REPORT REQUIREMENTS FOR PASS-THROUGH ENTITIES. A. If County determines that Contractor is a “subrecipient” (also known as a “pass- pass-through entity”) as defined in 2 C.F.R. § 200 et seq., Contractor represents that it will comply with the applicable cost principles and administrative requirements including claims for payment or reimbursement by County as set forth in 2 C.F.R. § 200 et seq., as may be amended from time to time. Contractor shall observe and comply with all applicable financial audit report requirements and standards. B. Financial audit reports must contain a separate schedule that identifies all funds included in the audit that are received from or passed through the County. County programs must be identified by Agreement number, Agreement amount, Agreement period, and the amount expended during the fiscal year by funding source. C. Contractor will provide a financial audit report including all attachments to the report and the management letter and corresponding response within six months of the end of the audit year to the Director. The Director is responsible for providing the audit report to the County Auditor. D. Contractor must submit any required corrective action plan to the County simultaneously with the audit report or as soon thereafter as it is available. The County shall monitor implementation of the corrective action plan as it pertains to services provided pursuant to this Agreement.