Laserfiche WebLink
C. Audits <br /> 1. If Subrecipient is a Non-Federal entity as defined in 2 CFR Part 200.69, and expends$750,000 <br /> or more in Federal awards during its fiscal year, then the Subrecipient shall meet the audit <br /> requirements in 2 CFR Part 200 Subpart F. Audit packages are due to the City within nine <br /> months after the close of the Subrecipient's fiscal year. <br /> 2. If the Subrecipient is not subject to the requirements in Paragraph C(1) of this section, the <br /> following apply: <br /> Entity Type Non-Profit For Profit <br /> Gross Revenue Gross Revenue Gross Revenue Gross Revenue Gross Revenue <br /> Under$3M on Over$3M on Under $3M on Over $3M on <br /> average in the average in the average in the average in the <br /> previous three previous three previous three previous three <br /> fiscal years. fiscal years. fiscal years. fiscal years. <br /> Required • Form 990 within Audited financial • Income tax Audited financial <br /> Documentation 30 days of its statements return; and statements <br /> being filed; and prepared by an • A full set of prepared by an <br /> • A full set of independent annual internal independent <br /> annual internal Certified Public financial Certified Public <br /> financial Accountant or statements Accountant or <br /> statements Accounting Firm Accounting Firm <br /> Due Date Within 30 calendar Within nine .Within 30 calendar Within nine <br /> days from the months following days from the months following <br /> forms being filed. the close of the forms being filed. the close of the <br /> Contractor's fiscal Contractor's fiscal <br /> year. year. <br /> 3. If the Subrecipient is not subject to the requirements in Paragraph C(1) of this section,the <br /> Subrecipient may, in extraordinary circumstances, request, and in the City's sole discretion be <br /> granted, a waiver of the audit requirements. Such requests are made to the City at:City of <br /> Everett, 2930 Wetmore Ave., Everett, WA 98201, Attn: Tyler Chism for review. If approved <br /> by the City, the Subrecipient may substitute for the above requirements other forms of <br /> financial reporting or fiscal representation certified by the Subrecipient Board of Directors, <br /> provided the Subrecipient meets the following criteria: (a)financial reporting and any <br /> associated management letter show no reportable conditions or internal control issues; and <br /> (b) there has been no turnover in key staff since the beginning of the period for which the <br /> financial reporting was completed. <br /> 4. The Subrecipient must provide the City with notice of any adverse audit findings that relate to <br /> or impact this Agreement. <br /> 5. The City shall be responsible for issuing a management decision for any audit findings that <br /> relate to or impact this Agreement, as provided for under 2 CFR 200.521. <br /> D. Inspections. The records and documents with respect to all matters covered by this Agreement <br /> shall be subject at all time to inspection, review, or audit by the City, the Treasury Office of <br /> Inspector General, the Government Accountability Office, and/or any other federal or state <br /> officials authorized by law during the performance of this Agreement and for six years after <br /> termination hereof, unless a longer retention period is required by law, and all such agencies and <br /> officials may request additional information for the administration of the award, or as may be <br /> EVE R E T T Everett Forward Grant Program Subrecipient Agreement Page 5 <br /> III WASHINGTON <br />