Common use of FINANCIAL REPORT REQUIREMENTS Clause in Contracts

FINANCIAL REPORT REQUIREMENTS. A. The Agency shall, if applicable: 1. Adhere to OMB Circular A‐133 “Audits of State, Local Governments and Non‐Profit Organizations” which establishes single audit requirements and federal responsibilities for implementing and monitoring audit requirements for non‐profit and governmental organizations receiving federal financial assistance. 2. Provide access to financial records by independent auditors. 3. Submit two (2) copies of the audit, management letter, and corrective action plan (if applicable). Submission of the report shall be the earlier of 30 days after the Agency's receipt of the auditor’s report or nine months after the end of the audit period. The audit must be accompanied by documentation indicating that the Agency’s Board of Directors has reviewed the audit and management letter. B. For agencies, not required to meet OMB A‐133 Single Audit Requirements, the Agency shall submit: 1. Annual financial statement, and 2. The Federal Form 990 “Return of Organizations Exempt from Income Tax” (if required to file with the Internal Revenue Service). C. The Agency shall maintain accounting records that accurately reflect actual total program operating expenditures and all revenues contributing to program operation. A revenue and expenditure report will be submitted by February 15, 2012, for Calendar Year 2011 and February 15, 2013 for Calendar Year 2012.

FINANCIAL REPORT REQUIREMENTS. A. The Agency shall, if applicable: 1. Adhere to OMB Circular A‐133 A-133 “Audits of State, Local Governments and Non‐Profit Non-Profit Organizations” which establishes single audit requirements and federal responsibilities for implementing and monitoring audit requirements for non‐profit non-profit and governmental organizations receiving federal financial assistance. 2. Provide access to financial records by independent auditors. 3. Submit two (2) copies of the audit, management letter, and corrective action plan (if applicable). Submission of the report shall be the earlier of 30 days after the Agency's receipt of the auditor’s report or nine months after the end of the audit period. The audit must be accompanied by documentation indicating that the Agency’s Board of Directors has reviewed the audit and management letter. B. For agencies, not required to meet OMB A‐133 A-133 Single Audit Requirements, the Agency shall submit: 1. Annual financial statement, and 2. The Federal Form 990 “Return of Organizations Exempt from Income Tax” (if required to file with the Internal Revenue Service). C. The Agency shall maintain accounting records that accurately reflect actual total program operating expenditures and all revenues contributing to program operation. A revenue and expenditure report will be submitted by February 15, 20122016, for Calendar Year 2011 2015 and February 15, 2013 2017 for Calendar Year 20122016.

FINANCIAL REPORT REQUIREMENTS. A. The Agency Contractor shall, if applicable: 1. Adhere to OMB Circular A‐133 A-133 “Audits of State, Local Governments and Non‐Profit Non-Profit Organizations” which establishes single audit requirements and federal responsibilities for implementing and monitoring audit requirements for non‐profit non-profit and governmental organizations receiving federal financial assistance. 2. Provide access to financial records by independent auditorsauditors or the County. 3. Submit two (2) copies of the audit, management letter, and corrective action plan (if applicable). Submission of the report shall be the earlier of 30 days after the AgencyContractor's receipt of the auditor’s report or nine months after the end of the audit period. The audit must be accompanied by documentation indicating that the AgencyContractor’s Board of Directors has reviewed the audit and management letter. B. For agencies, not required to meet OMB A‐133 A-133 Single Audit Requirements, the Agency Contractor shall submit: 1. Annual financial statement, and 2. The Federal Form 990 “Return of Organizations Exempt from Income Tax” (if required to file with the Internal Revenue Service). C. The Agency Contractor shall maintain accounting records that accurately reflect actual total program operating expenditures and all revenues contributing to program operation. A revenue and expenditure report will be submitted by February 15, 20122020, for Calendar Year 2011 2019 and February 15, 2013 2021 for Calendar Year 20122020.