State Funds Requirements. In the event an audit is required, if the Contractor is a state or local government entity, the Office of the State Auditor shall conduct the audit. Audits of non-profit organizations are to be conducted by a certified public accountant selected by the Contractor. The Contractor shall include the above audit requirements in any subcontracts. In any case, the Contractor’s records must be available for review by THE BOARD.
State Funds Requirements. Grantees expending $100,000 or more in total state funds in a fiscal year must have a financial audit as defined by Government Auditing Standards (The Revised Yellow Book) and according to Generally Accepted Auditing Standards (GAAS). The Schedule of State Financial Assistance must be included. The schedule includes: Grantor agency name State program name BARS account number Grantor COMMERCE Grant number Grant award amount including amendments (total grant award) Beginning balance Current year revenues Current year expenditures Ending balance Program total If the Grantee is a state or local government entity, the Office of the State Auditor shall conduct the audit. Audits of non-profit organizations are to be conducted by a certified public accountant selected by the Grantee. The Grantee shall include the above audit requirements in any subgrants. In any case, the Grantee’s financial records must be available for review by COMMERCE.
State Funds Requirements. Construction Manager acknowledges that the Project will be funded in part by (check all applicable): the Homeless Solutions Program (“HSP Funds”) the Housing Development Grant program (“HDG Funds”) the Housing Trust Fund program (“HTF Funds”) collectively, the “State Funds.” As a result, Owner is subject to certain state-required conditions and restrictions. The State Funds will be granted or loaned to Owner by one or more State agencies (the “State Funders,” and together with the Bank, Limited Partner, and the Federal Funders, the “Funders”).
State Funds Requirements. Grantees expending $100,000 or more in total state funds in a fiscal year must have a financial audit as defined by Government Auditing Standards (The Revised Yellow Book) and according to Generally Accepted Auditing Standards (GAAS). The Schedule of State Financial Assistance must be included. The schedule includes: Grantor agency name State program name BARS account number Grantor COMMERCE Agreement number Agreement award amount including amendments (total grant award) Current year expenditures If the Grantee is a state or local government entity, the Office of the State Auditor shall conduct the audit. The Grantee shall include the above audit requirements in any subcontracts. In any case, the Grantee’s financial records must be available for review by COMMERCE.
