Laserfiche WebLink
I <br /> • 28. AUDIT <br /> The Subrecipient agrees to provide Recipient with an annual audit consistent with the <br /> Single Audit Act of 1984, (U.S. Public Law 98-502) and the implementing requirements <br /> of OMB Circular A-128, Audits of State and Local Governments, and, as applicable, <br /> OMB Circular A-1 10, Uniform Requirements for Grants to Universities, Hospitals and <br /> Non-Profit Organizations. <br /> A. The audit is to be provided to Recipient on July 1 of each year this Agreement is <br /> in effect and any findings of noncompliance affecting the use of CDBG funds shall <br /> be satisfied by Subrecipient within six (6) months of the provision date. <br /> B. The audit is not required, however, in those instances where less than $25,000 <br /> in assistance is received from all Federal sources in any one 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 non-CDBG <br /> funds any CDBG expenses which are disallowed by an audit. <br /> • <br /> • 10 <br />