Required Audit a. If Contractor expends $750,000 or more in federal grant funds in any fiscal year from any source, Contractor must provide to County, at Contractor's expense, an audit conforming to the requirements set forth in the most current version of Code of Federal Regulations, Title 2, Part 200, Subpart F.
b. If Contractor expends less than $750,000 in federal grant funds in any fiscal year from any source, but the grant imposes specific audit requirements, Contractor must provide County with an audit conforming to those requirements.
c. If Contractor expends less than $750,000 in federal grant funds in any fiscal year from any source, Contractor is exempt from federal audit requirements for that year except as required by Code of Federal Regulations, Title 2, Part 200, Subpart F. Contractor shall make its records available for, and an audit may be required by, appropriate officials of the federal awarding agency, the General Accounting Office , the pass-through entity and/or the County. If an audit is required, Contractor must provide County with the audit.
d. With respect to the audits specified in sections (a), (b) and (c) above, Contractor is solely responsible for arranging for the conduct of the audit, and for its cost. County may withhold the estimated cost of the audit or 10 percent of the contract amount, whichever is greater, or the final payment, from Contractor until County receives the audit from Contractor.
Required Audit. The Borrower shall have a single or program-specific audit conducted in accordance with 2 C.F.R. Part 200 Subpart F and 31 U.S.C. § 7502 in calendar year 2017 and annually thereafter, except to the extent biennial audits are permitted for the Borrower pursuant to 2 C.F.R. § 200.504 and 31 U.S.C. § 7502(b). Upon reasonable notice, the Borrower shall cooperate fully in the conduct of any periodic or compliance audits conducted by the TIFIA Lender, the USDOT, or designees thereof, pursuant to 49 C.F.R. § 80.19, 31 U.S.C. § 7503(b), or 31 U.S.C. § 6503(h) and shall provide full access to any books, documents, papers or other records that are pertinent to the Project or the TIFIA Loan, to the Secretary, or the designee thereof, for any such project or programmatic audit.
Required Audit. Xxxx Xxxxx LLP (the “Auditor”) shall have completed an audit of the financial statements of RFG (the “Closing Financial Statements”) as reasonably required by Calavo in order to satisfy its reporting requirements with the SEC (the “Audit”). The Auditor shall have issued its opinion without qualification, and such Audit shall indicate that RFG is solvent and that the representations regarding internal accounting controls set forth in Section 3.33 are true and correct. The Closing Financial Statements of RFG, as audited, shall be in all material respects consistent with the Financial Statements, to the satisfaction of Calavo in its sole discretion. The Closing Financial Statements must (i) comply as of the Closing as to form in all material respects with the requirements of Rule 3-05 of Regulation S-X promulgated under the Exchange Act with respect to an acquired business, assuming that RFG is acquired by an entity registered under Section 12 of the Exchange Act; (ii) present fairly, in all material respects, the financial position of RFG on a consolidated basis (taken as a whole) as at the dates thereof and the statements of income and cash flows of the RFG for the periods then ended; and (iii) accurately reflect in all material respects the books of account and other financial records of the RFG Family Entities.
Required Audit. Buyer has advised Seller that Buyer or its potential assignee (“Potential Assignee”) must cause to be prepared up to three (3) years of audited financial statements in respect of the Property in compliance with the policies of Buyer or the Potential Assignee, respectively, and certain laws and regulations, including Securities and Exchange Commission Regulation S-X. Seller shall use commercially reasonable efforts to cooperate with Buyer’s or Potential Assignee’s auditors in the preparation of such audited financial statements (it being understood and agreed that the foregoing covenant shall survive the Closing for a period of one (1) year). Without limiting the generality of the preceding sentence (a) Seller shall, during normal business hours and after reasonable prior notice, allow Buyer’s and Potential Assignee’s auditors reasonable access to such books and records maintained by Seller (and Seller’s manager of the Property) in respect of the Property as necessary to prepare such audited financial statements; (b) Seller shall use commercially reasonable efforts (and, as used in this Agreement, commercially reasonable efforts shall not include any obligation to institute legal proceedings or to expend any monies) to provide to Buyer and Potential Assignee such financial information and supporting documentation as are necessary for such auditors to prepare audited financial statements; (c) if Buyer, Potential Assignee or such auditors require any information that is in the possession of the party from which Seller purchased the Property, Seller shall contact such prior owner of the Property and use commercially reasonable efforts to obtain from such party the information requested; (d) Seller will make available for interview by Buyer, the Potential Assignee and their respective auditors the manager of the Property or other agents or representatives of Seller responsible for the day-to-day operation of the Property and the keeping of the books and records in respect of the operation of the Property; and (e) if Seller has audited financial statements with respect to the Property, Seller shall promptly provide Buyer’s or Potential Assignee’s auditors with a copy of such audited financial statements. If after the Closing Date Seller obtains an audited financial statement in respect of the Property for a fiscal period prior to the Closing Date that was not completed as of the Closing Date, then Seller shall promptly provide Buyer and Potential Assignee with a...
Required Audit. The Agency shall require the independent auditor, retained to perform the audit as required by the Single Audit Act of 1984, to specifically test and certify that these limitations (...funds shall not exceed local revenue...funds shall not be expended for depreciation or amortization of capital assets...funds shall not supplant local tax revenues made available for operations in the previous year) of the block grant program as delineated in Section 341.052, F.S., have been adhered to.
Required Audit a. If Contractor expends $750,000 or more in federal grant funds in any fiscal year from any source, Contractor must provide to County, at Contractor's expense, an audit conforming to the requirements set forth in the most current version of Code of Federal Regulations, Title 2, Part 200, Subpart F.
b. If Contractor expends less than $750,000 in federal grant funds in any fiscal year from any source, but the grant imposes specific audit requirements, Contractor must provide County with an audit conforming to those requirements.
c. If Contractor expends less than $750,000 in federal grant funds in any fiscal year from any source, Contractor is exempt from federal audit requirements for that year except as required by Code of Federal Regulations, Title 2, Part 200, Subpart F. Contractor shall make its records available for, and an audit may be required by, appropriate Contra Costa County Standard Form L-5 Revised 2016 officials of the federal' awarding agency, the General Accounting Office , the pass-through entity and/or the County. If an audit is required, Contractor must provide County with the audit.
d. With respect to the audits specified in sections (a), (b) and (c) above, Contractor is solely responsible for arranging for the conduct of the audit, and for its cost. County may withhold the estimated cost of the audit or 10 percent of the contract amount, whichever is greater, or the final payment, from Contractor until County receives the audit from Contractor.
Required Audit. (A) If Contractor is funded by $300,000 or more in federal grant funds in any fiscal year from any source, Contractor shall provide to County at Contractor’s expense an audit conforming to the requirements set forth in the most current version of Office of Management and Budget Circular A-133.
(B) If Contractor is funded by less than $300,000 in federal grant funds in any fiscal year from any source, but such grant imposes specific audit requirements; Contractor shall provide to County an audit conforming to those requirements.
(C) If Contractor is funded by less than $300,000 in federal grant funds in any fiscal year from any source, Contractor is exempt from federal audit requirements for that year, however, Contractor’s records must be available for and an audit may be required by, appropriate officials of the federal awarding agency, the General Accounting Office (GAO), the pass-through entity and/or the County. If any such audit is required, Contractor shall provide County with such audit. With respect to the audits specified in (A), (B) and (C) above, Contractor is solely responsible for arranging for the conduct of the audit, and for its cost. County may withhold the estimated cost of the audit or 10 percent of the contract amount, whichever is larger, or the final payment, from Contractor until County receives the audit from Contractor.
Required Audit. Should the outstanding borrowings under the Line of Credit (inclusive of the face amount of any Letters of Credit) exceed $10,000,000, Bank will perform an audit within 30 days of such event."
Required Audit. A certified audit of Casino operations shall be performed within ninety (90) days after the end of each Operating Year, and upon termination or expiration of this Agreement. Additionally, a certified audit of Gross Gaming Revenue (as defined in the Casino Operating Contract) shall be performed quarterly within thirty (30) days after the end of each fiscal quarter. Such audit of Gross Gaming Revenue shall be performed by Deloitte & Touche LLP, or such other accounting firm as may be selected by Owner and approved by Manager in writing, such approval not to be unreasonably withheld (the “Accountants”); provided, that nothing herein shall restrict Owner from hiring any other accounting firm or firms to perform any accounting, audit or other services. During such audit and review periods, Manager agrees that each of the LGCB and its authorized representatives pursuant to the Casino Operating Contract and Landlord’s Accepted Auditor shall have the right to retain an independent auditor to participate with the selected Accountant to examine, audit, inspect and transcribe the Casino’s books and records. The determination of such accounting shall, unless appealed to arbitration, be conclusive and binding on the parties as to all matters properly addressed thereby, and Owner and/or Manager shall, promptly upon receipt thereof, adjust between them, any over or underpayment made or received by either of them, as the case may be, during the audited period. The cost of accounting services delivered by the Accountants shall be at Owner’s expense.
Required Audit. The Agency shall require the independent auditor, retained to perform the audit as required by the Office of Management (OMB) Circular A-133 and/or the Florida Single Audit Act, 215.97 F.S., to specifically test and certify that services funded by the program were provided in non-urbanized areas, that there was no restriction on public use, and that the State and Federal share of eligible costs did not exceed amounts specified in the approved project budget (Exhibit B).
