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27. ACCESS TO RECORDS <br /> • The Recipient shall have authority to review any and all procedures and all <br /> materials, notices, documents, etc. , prepared by the Subrecipient in <br /> implementation of this Agreement, and the Subrecipient agrees to provide <br /> all information required by any person authorized by the Recipient to <br /> request such information from the Subrecipient for the purpose of reviewing <br /> the same. <br /> 28. AUDIT <br /> The Subrecipient agrees to provide Recipient with an annual audit <br /> consistent with the Single Audit Act of 1984, (U.S. Public Law 98-502) and <br /> the implementing requirements of OMB Circular A-128, Audits of State and <br /> Local Governments, and, as applicable, OMB Circular A-110, Uniform <br /> Requirements for Grants to Universities, Hospitals and Non-Profit <br /> Organizations. <br /> A. The audit is to be provided to Recipient on July 1 of each year this <br /> Agreement is in effect and any findings of noncompliance affecting the <br /> use of CDBG funds shall be satisfied by Subrecipient within six (6) <br /> months of the provision date. <br /> B. The audit is not required, however, in those instances where less than <br /> $25,000 in assistance is received from all Federal sources in any one <br /> fiscal year. <br /> C. The cost of the audit is not reimbursable from CDBG funds. <br /> D. The Recipient reserves the right -to recover from the Subrecipient's <br /> non-CDBG funds any CDBG expenses which are disallowed by an audit. <br /> 10 <br />