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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 <br />.Nan -Profit <br />For Profit <br />Gross Revenue <br />.Gross Revenue <br />Under $3M on <br />Gross Revenue <br />Over $3M on <br />Gross Revenue <br />Under $3M on <br />Revenue <br />.Gross <br />Over $3M on <br />average in the <br />previous three <br />fiscal years <br />average in the <br />previous three <br />fiscal years. <br />average in the <br />previous three <br />fiscal years. <br />average in the <br />previous three <br />fiscal years. <br />Required <br />Documentation <br />• .Form 990 within <br />30 days of its <br />being filed; and <br />• .A hill set of <br />annual internal <br />financial <br />statements <br />Audited financial <br />statements <br />prepared by an <br />independent <br />Certified Public <br />Accountant or <br />Accounting Firm <br />• income tax <br />return; and <br />• A full set of <br />annual internal <br />financial <br />statements <br />Audited financial <br />statements <br />prepared by an <br />independent <br />Certified Public <br />Accountant or <br />Accounting Firm <br />Due Date <br />_Within 30 calendar <br />days from the <br />forms being filed. <br />.Within nine <br />months following <br />the close of the <br />Contractor's fiscal <br />year. <br />.Within 30 calendar <br />days from the <br />forms being filed. <br />_Within nine <br />months following <br />the close of the <br />Contractor's fiscal <br />year. <br />3. If the Subrecipient is not sub ect 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 />EVERETT <br />WASHINGTON <br />Everett Forward Grant Program . Subrecipient Agreement <br />Page 5 <br />