Financial Reporting and Audit Requirements. If one or more phases of this AGREEMENT include a sub-award of federal funds to the LPA, the LPA shall comply with the financial reporting and audit requirements of 2 CFR Part 200. If not, the financial reporting and audit requirements remain with ODOT. All non-federal entities, including ODOT’s LPA subrecipients, that have aggregate federal awards expenditures from all sources of $750,000 or more in the non-federal entity’s fiscal year must have a Single Audit, or program-specific audit, conducted for that year in accordance with the provisions of 2 CFR Part 200. LPAs that expend Federal and State funds in the Preliminary Engineering and/or Right of Way phases of the Project must track these payments throughout the life of the in order to ensure an accurate Schedule of Expenditures of Federal Award (hereinafter referred to as SEFA) is prepared annually for all Applicable Federal Funds. Applicable Federal Funds are those that are identified with the various project phases of this Agreement as a subaward. Applicable Federal Funds include not only those LPA project expenditures that ODOT subsequently reimburses with Federal funds, but also those Federal funds project expenditures that are disbursed directly by ODOT upon the request of the LPA. The LPA must separately identify each ODOT PID and/or Project and the corresponding expenditures on its SEFA. LPAs are responsible for ensuring funds related to this PROJECT are reported when the activity related to the Federal award occurs.5 Further, the LPA may make this applicable. Accordingly, the fringe benefits rate applicable to different fiscal years throughout the period of performance of the project may fluctuate to match changes to the ODOT approved rate.
Financial Reporting and Audit Requirements. One or more phases of this Agreement include a sub award of Federal funds to the LPA. Accordingly, the LPA must comply with the financial reporting and audit requirements of 2 CFR Part 200. All non-federal entities, including ODOT’s LPA sub recipients, that have aggregate federal awards expenditures from all sources of $750,000 or more in the non-federal entity’s fiscal year must have an LPA is eligible to invoice ODOT for and recover the 10% de minimis indirect cost rate on any project, the LPA’s time-tracking system and methods for tracking other project costs must be reviewed and approved by the ODOT Office of External Audits. A non-Federal entity that elects to charge the de minimis rate must meet the requirements in 2 CFR 200 Appendix VII Section D, Part 1, paragraph b.
Financial Reporting and Audit Requirements. CONTRACTOR shall comply with all applicable federal and state laws and regulations regarding financial reporting and auditing, including but not limited to 2 CFR 200, Subpart F; Utah Code: 51-2a-201.5, Utah Code: 53A-1a-507. Utah Admin. Code Rule R123-5, the State of Utah Compliance Audit Guide (SCAG). Further information on financial reporting and audit requirements is available at xxxxxxx.xxxx.xxx.
Financial Reporting and Audit Requirements. The LPA shall comply with the financial reporting and audit requirements of 2 CFR Part 200. The LPA must submit performance reports at the interval required by the Federal awarding agency and pass-through entity. Annual reports must be due 90 calendar days after the reporting period; quarterly and semi-annual reports must be due 30 calendar days after the reporting period.
Financial Reporting and Audit Requirements. In accordance with 2 C.F.R. 200 Subpart F, “Audit Requirements”, effective December 26, 2014 and N.C.G.S. 159-34, the Grantee shall have its accounts audited as soon as possible after the close of each fiscal year by an independent auditor. The Grantee agrees to submit the required number of copies of the audit reporting package four months after the Grantee’s fiscal year-end to: the Local Government Commission if a government entity, or NCDOT PTD per NC Grants requirements for non-governmental entities
Financial Reporting and Audit Requirements. In accordance with OMB Circular A-133, "Audits of State, Local Governments and Non- Profit Organizations," revised on June 27, 2003, and N.C.G.S. 159- 34, the Contractor shall have its accounts audited as soon as possible after the close of each fiscal year by an independent auditor. The Contractor agrees to submit the required number of copies of the audit-reporting package to the Local Government Commission four months after the Contractor’s fiscal year-end.
Financial Reporting and Audit Requirements. One or more phases of this Agreement include a sub award of Federal funds to the LPA. Accordingly, the LPA must comply with the financial reporting and audit requirements of 2 CFR Part 200. All non-federal entities, including ODOT's LPA sub recipients, that have aggregate federal awards expenditures from all sources of $750,000 or more in the non-federal entity's fiscal year must have a Single Audit, or program-specific audit, conducted for that year in accordance with the provisions of 2 CFR Part 200. Federal and State funds expended to or on behalf of a sub recipient must be recorded in the accounting records of the LPA subrecipient. The LPA is responsible for tracking all project 3 [Also be sure to read footnotes # 1 and 2] The fringe benefits rate billed to this project must be determined in accordance with the Rate Agreement periodically negotiated with and approved by the ODOT Office of External Audits. The fiscal period when the LPA's direct labor costs are paid will be matched with the ODOT approved rate for that fiscal year to determine which rate is applicable. Accordingly, the fringe benefits rate applicable to different fiscal years throughout the period of performance of the project may fluctuate to match changes to the ODOT approved rate.
Financial Reporting and Audit Requirements. In accordance with OMB Circular A-133 (xxxx://xxx.xxxx.xxx/cgi-bin/text-idx?SID=a4f865859e78a1e545f1d4c22b49fc86&node=sp2.1.200.e&rgn=div6), "Audits of State, Local Governments and Non-Profit Organizations," current as of April 2, 2015, and N.C.G.S. 159-34, the Recipient shall have its accounts audited as soon as possible after the close of each fiscal year by an independent auditor. TJCOG reserves the right to request annual audit reports from the subrecipient.
Financial Reporting and Audit Requirements. GRANTEE shall comply with all applicable federal and state laws and regulations regarding financial reporting and auditing, including but not limited to 2 CFR 200, Subpart F; Utah Code: 51-2a-201.5, Utah Code: 53A-1a- 507. Utah Admin. Code Rule R123-5, the State of Utah Compliance Audit Guide (SCAG). Further information on financial reporting and audit requirements is available at xxxxxxx.xxxx.xxx/xxxxx- government-2/reporting-requirements/ AND xxxxxxx.xxxx.xxx/xxxxx-xxxxxxxxxx- 2/publications/state-compliance-guide/.
Financial Reporting and Audit Requirements. 6.1. NRDP will provide confirmation by email of receipt of funds within 5 days.
6.2. NRDP will provide Feed the Minds with quarterly electronic financial reports, prepared by the Accounts Officer and approved by the Project Officer.
6.3. NRDP will keep copies of all authorised receipts in the project office.
6.4. NRDP will submit a budget request for the next quarter at the same time as the financial report.
6.5. NRDP will inform Feed the Minds immediately if expenditure on any budget line looks likely to vary by more than 10%. Any such changes must be approved by DFID, in advance.
6.6. NRDP will be audited annually and submit audited accounts to Feed the Minds on a yearly basis.
6.7. NRDP will submit a final financial report no later than one month after the close of this project.
6.8. NRDP is required to keep, for seven years after the end of the project, documentary evidence (such as receipts, invoices) of all the expenses associated with the project.
6.9. NRDP will use a separate bank account set up for the sole use of the programmes in which it partners with Feed the Minds.
6.10. NRDP will return any unspent balance or misspent funds to Feed the Minds unless it is agreed in writing to reassign them for other purposes.
6.11. Funds provided through this project will not be used to meet the cost of import or customs duties or any similar fees imposed by the Government of Pakistan on goods and services provided, except where specifically agreed with and allowed by DFID.
