Common use of Single Audit Act Compliance Clause in Contracts

Single Audit Act Compliance. If the Contractor is a subrecipient and expends $750,000 or more in federal awards from any and/or all sources in any fiscal year, the Contractor shall procure and pay for a single audit or a program-specific audit for that fiscal year. Upon completion of each audit, the Contractor shall: 23.2.1. Submit to the Great Rivers contact person, listed on the first page of this Agreement, the data collection form and reporting package specified in 2 CFR Part 200, Subpart F, reports required by the program-specific audit guide (if applicable), and a copy of any management letters issued by the auditor; 23.2.2. Follow-up and develop corrective action for all audit findings, in accordance with 2 CFR Part 200, Subpart F; prepare a “Summary Schedule of Prior Audit Findings”, reporting the status of all audit findings included in the prior audit’s schedule of findings and questioned costs.

Single Audit Act Compliance. If the Contractor is a subrecipient under a Program Agreement and expends $750,000 or more in federal awards from any and/or all sources in any fiscal year, the Contractor shall procure and pay for a single audit or a program-specific audit for that fiscal year. Upon completion of each audit, the Contractor shall: 23.2.1. (1) Submit to the Great Rivers DSHS contact person, listed on the first page of this the Program Agreement, the data collection form and reporting package specified in 2 CFR Part 200, Subpart F, reports required by the program-specific audit guide (if applicable), and a copy of any management letters issued by the auditor; 23.2.2. (2) Follow-up and develop corrective action for all audit findings, in accordance with 2 CFR Part 200, Subpart F; prepare a “Summary Schedule of Prior Audit Findings”, ” reporting the status of all audit findings included in the prior audit’s 's schedule of findings and questioned costs.