Records to be Maintained. i. The Beneficiary shall maintain all records (may be secure digital storage) specified in 2 CFR Part 200 that are pertinent to the activities to be funded under this Agreement. Such records shall include but not be limited to: • Records providing a full description of each activity undertaken; • Records required for determining the eligibility of certain activities per 2 CFR Part 200; • Records required to document the acquisition, improvement, use or disposition of real property acquired or improved with program assistance, as applicable; • Records documenting compliance with Fair Housing Act, Title VIII-IX of the Civil Rights Act; • Financial records as required by 2 CFR Part 200, other than such provisions as Treasury may determine are inapplicable to this Award and subject to such exceptions as may be otherwise provided by Treasury; • Subpart F – Audit Requirements of the Uniform Guidance, implementing the Single Audit Act, shall apply to this award. • Audits & Inspections All Beneficiary records with respect to any matters covered by this Agreement shall be made available to the Grantee, grantor agency, and the Comptroller General of the United States or any of their authorized representatives, at any time during normal business hours, as often as deemed necessary, to audit, examine, and make excerpts or transcripts of all relevant data. Beneficiary shall submit one copy of the Reporting Package as outlined in 2 CFR 200.512(c) or one copy of the organization’s annual audit in its entirety to Grantee the earlier of 30 calendar days after receipt of the auditor’s report(s), or nine months after the end of the audit period. Submissions may be in the form of either a hard copy or an electronic copy. If any findings are reported in the organization’s audit, the Beneficiary shall submit a copy of the summary schedule and corrective action plan as outlined in 2 CFR 200.511 to the Grantee at the same time the response is transmitted to the auditors. All required corrective actions must be taken within six months of receipt of the audit report. Failure of the Beneficiary to comply with the above audit requirements will constitute a violation of this Agreement and may result in the withholding of future payments.
Appears in 21 contracts
Samples: Funding Agreement, Beneficiary Agreement, Arpa Beneficiary Agreement
