Common use of Single Annual Audit Clause in Contracts

Single Annual Audit. 10.5.1. BSO must have a single audit or program-specific audit conducted each year. The audit must be performed in accordance with 2 C.F.R. Part 200, Subpart F, “Audit Requirements,” and other applicable federal law. This Agreement must be identified in BSO’s Schedule of Federal Financial Assistance in the subject audit. BSO’s audit report must identify this Agreement and include the contract number, award amount, contract period, funds received, and funds disbursed. 10.5.2. A complete audit report that covers any portion of the effective dates of this Agreement must be submitted to County within 30 days after completion and must be finalized no later than nine (9) months after the audit period. In order to be complete, the submitted audit report to County must include BSO management’s written response to all findings. It must also include management letters, if any, and BSO management’s response to the management letters. 10.5.3. Audits must be completed by an Independent Public Accountant (“IPA”) and according to Generally Accepted Government Auditing Standards. The IPA must be either a Certified Public Accountant or a Licensed Public Accountant. BSO must procure audit activities according to the Part 200 Uniform Guidance and include clear objectives and scope of the audit in addition to peer review reports to strengthen audit quality and ensure effective use of audit resources. 10.5.4. BSO must promptly follow up and take appropriate corrective action for any findings in the audit report in instances of noncompliance with federal laws and regulations, including but not limited to preparation of a summary schedule of prior audit findings and a corrective action plan. BSO’s follow-up audit findings must comply with the requirements in Part 200 Uniform Guidance. 10.5.5. BSO must make copies of the audit available for public inspection and ensure respective parts of the reporting package do not include protected personally identifiable information. The audit and its supporting records must be made available upon request for a period of three (3) years after the date the audit report is issued. County, in its sole discretion, may extend this records retention period. 10.5.6. If this Agreement is closed without an audit, County reserves the right to recover any disallowed costs identified in an audit completed after such closeout. 10.5.7. The Federal Audit Clearinghouse is the repository of record for 2 C.F.R. § 200(F). Audits performed as a result of this requirement must be completed and submitted to the Federal Audit Clearinghouse within the earlier of thirty (30) calendar days after receipt of the auditor’s reports, or nine (9) months after the end of the audit period. Submission must include required elements described in Appendix X to Part 200 Uniform Guidance on the specified Data Collection Form (Form SF-SAC) and be signed by BSO’s chief financial officer or designee.

Single Annual Audit. 10.5.110.4.1. BSO must have a single audit or program-specific audit conducted each year. The audit must be performed in accordance with 2 C.F.R. Part 200, Subpart F, “Audit Requirements,” and other applicable federal law. This Agreement must be identified in BSO’s Schedule of Federal Financial Assistance in the subject audit. BSO’s audit report must identify this Agreement and include the contract number, award amount, contract period, funds received, and funds disbursed. 10.5.210.4.2. A complete audit report that covers any portion of the effective dates of this Agreement must be submitted to County City within 30 days after completion and must be finalized no later than nine (9) months after the audit period. In order to be complete, the submitted audit report to County City must include BSO management’s written response to all findings. It must also include management letters, if any, and BSO management’s response to the management letters. 10.5.310.4.3. Audits must be completed by an Independent Public Accountant (“IPA”) and according to Generally Accepted Government Auditing Standards. The IPA must be either a Certified Public Accountant or a Licensed Public Accountant. BSO must procure audit activities according to the Part 200 Uniform Guidance and include clear objectives and scope of the audit in addition to peer review reports to strengthen audit quality and ensure effective use of audit resources. 10.5.410.4.4. BSO must promptly follow up and take appropriate corrective action for any findings in the audit report in instances of noncompliance with federal laws and regulations, including but not limited to preparation of a summary schedule of prior audit findings and a corrective action plan. BSO’s follow-up audit findings must comply with the requirements in Part 200 Uniform Guidance. 10.5.510.4.5. BSO must make copies of the audit available for public inspection and ensure respective parts of the reporting package do not include protected personally identifiable information. The audit and its supporting records must be made available upon request for a period of three (3) years after the date the audit report is issued. County, in its sole discretion, may extend this records retention period. 10.5.6. If this Agreement is closed without an audit, County reserves the right to recover any disallowed costs identified in an audit completed after such closeout. 10.5.710.4.6. The Federal Audit Clearinghouse is the repository of record for 2 C.F.R. § 200(F). Audits performed as a result of this requirement must be completed and submitted to the Federal Audit Clearinghouse within the earlier of thirty (30) calendar days after receipt of the auditor’s reports, or nine (9) months after the end of the audit period. Submission must include required elements described in Appendix X to Part 200 Uniform Guidance on the specified Data Collection Form (Form SF-SAC) and be signed by BSO’s chief financial officer or designee.

Single Annual Audit. 10.5.19.5.1. BSO Subrecipient must have a single audit or program-specific audit conducted for each yearfiscal year in which Grant Funds are received or expended. The If the Grant is federally funded, the audit must be performed in accordance with 2 C.F.R. Part 200, Subpart F, “Audit Requirements,” and other applicable federal law. This , and the Subgrant Award Agreement must be identified in BSOSubrecipient’s Schedule schedule of Federal Financial Assistance federal financial assistance in the subject audit. BSOSubrecipient’s audit report must identify this the Subgrant Award Agreement and include the contract number, award amount, contract period, funds received, and funds disbursed. 10.5.29.5.2. A The complete audit report that covers any portion of the effective dates of this Agreement must be submitted to County within 30 thirty (30) days after completion and must be finalized no later than nine (9) months after the audit period. In order to be complete, the submitted audit report to County must include BSO Subrecipient management’s written response to all findings. It must also include , management letters, if any, and BSO Subrecipient management’s response to the management letters, if any. 10.5.39.5.3. Audits must be completed by an Independent Public Accountant (“IPA”) and according to Generally Accepted Government Auditing Standards. The IPA must be either a Certified Public Accountant or a Licensed Public Accountant. BSO Subrecipient must procure audit activities according to the Part 200 Uniform Guidance (if Grant is federally funded), and include clear objectives and scope of the audit in addition to peer review reports to strengthen audit quality and ensure effective use of audit resources. 10.5.49.5.4. BSO Subrecipient must promptly follow up and take appropriate corrective action for any findings in the audit report in instances of noncompliance with federal laws and regulationsApplicable Law, including but not limited to to, preparation of a summary schedule of prior audit findings and a corrective action plan. BSOSubrecipient’s follow-up audit findings must comply with the requirements in Part 200 Uniform Guidance, to the extent applicable. 10.5.59.5.5. BSO Subrecipient must make copies of the audit available for public inspection and ensure respective parts of the reporting package do not include protected personally identifiable information. The audit and its supporting records must be made available upon request for a period of three (3) years after the date the audit report is issued. County, in its sole discretion, may extend this records retention periodperiod upon written notice to Subrecipient. 10.5.69.5.6. If this Agreement the Grant is closed without an auditaudit(s) that include the entirety of Grant Funds received by Subrecipient and the expenditure of all such funds, County reserves the right to recover any disallowed costs identified in an audit completed after such closeout. 10.5.79.5.7. The If the Grant is federally funded, the Federal Audit Clearinghouse is the repository of record for 2 C.F.R. § 200(F). Audits performed as a result of this requirement pursuant to 2 C.F.R. § 200(F) must be completed and submitted to the Federal Audit Clearinghouse within the earlier of by thirty (30) calendar days after receipt of the auditor’s reports, reports or nine (9) months after the end of the audit period, whichever is earlier. Submission Such submissions must include required elements described in Appendix X to Part 200 Uniform Guidance on the specified Data Collection Form (Form SF-SAC) and be signed by BSOSubrecipient’s chief financial officer or designee.

Single Annual Audit. 10.5.1. BSO must 9.1 Subrecipients that expend $750,000 or more in a year in federal awards shall have a single audit or program-specific audit conducted each for that year. The audit must shall be performed in accordance with 2 C.F.R. Part 200, Subpart F, “Audit Requirements,” and other applicable federal law. This Agreement must be identified in BSO’s Schedule of Federal Financial Assistance in the subject audit. BSO’s audit report must identify this Agreement and include the contract number, award amount, contract period, funds received, and funds disbursed.2 10.5.2. 9.2 A complete audit report that covers any portion of the effective dates of this Agreement agreement must be submitted to County within 30 days after completion and must be finalized its completion, but no later than nine (9) months after the audit period. In order to be complete, the submitted audit report to County must shall include BSO any management letters issued separately and management’s 's written response to all findings, including audit report and management letter findings. It must also include management letters, if any, and BSO management’s response to Incomplete audit reports will not be accepted by the management lettersDepartment. 10.5.3. 9.3 Audits must shall be completed by an Independent Public Accountant (“IPA”) and according to Generally Accepted Government Auditing StandardsStandards (GAGAS). The IPA must shall be either a Certified Public Accountant or a Licensed Public Accountant. BSO must Subrecipients shall procure audit activities services according to the Part 200 Uniform Guidance § 200.509, and include clear objectives and scope of the audit in addition to peer review reports to strengthen audit quality and ensure effective use of audit resources. 10.5.4. BSO must 9.4 The subrecipient shall promptly follow follow-up and take appropriate corrective action for any findings in on the audit report in instances of noncompliance with federal laws and regulations, including but not limited to preparation of a summary schedule of prior audit findings and a corrective action plan. BSO’s Subrecipient follow-up to audit findings must comply with the abide by requirements in Part 200 Uniform Guidance2 C.F.R. § 200.511. 10.5.5. BSO 9.5 Auditees must make copies of the audit available for public inspection and ensure respective parts of the reporting package do not include protected personally identifiable information. The audit and its supporting records must Records shall be made available upon request for a period of three (3) years after from the date the audit report is issued. County, unless extended in its sole discretion, may extend this records retention periodwriting by the Department. 10.5.69.6 Subrecipients that expend less than $750,000 in federal awards during a fiscal year are exempt from the audit requirements of 2 C.F.R. § 200(F) for that fiscal year. In this case, written notification, which can be in the form of the “Certification of Audit Exemption” form, shall be provided to the Department by 9.7 If this Agreement agreement is closed without an audit, County the Department reserves the right to recover any disallowed costs identified in an audit completed after such closeout. 10.5.7. 9.8 The Federal Audit Clearinghouse is the repository of record for 2 C.F.R. § 200(F). Audits performed as a result of this requirement must be completed and submitted to the Federal Audit Clearinghouse within the earlier of thirty (30) calendar days after receipt of the auditor’s reportsreport(s), or nine (9) months after the end of the audit period. Submission Submissions must include required elements described in Appendix X to Part 200 Uniform Guidance on the specified Data Collection Form (Form SF-SAC) ), and be signed by BSO’s a senior level representative or chief financial officer official of the auditee. If the subrecipient opts not to authorize the Federal Audit Clearinghouse to make the reporting package publically available, the single audit report must be submitted directly to the Department. A scanned copy of the completed audit reports or designeea link to the electronic audit report should be sent via email to ▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇@▇▇▇▇.▇▇▇▇▇.▇▇.▇▇ or mailed to the following address: