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GENERAL TERMS AND CONDITIONS <br /> INTERAGENCY <br /> FEDERAL FUNDS <br /> B. Federal Funds Requirements -OMB Circular A-133 Audits of States, Local Governments <br /> and Non-Profit Organizations <br /> Contractors expending $500,000 or more in a fiscal year in federal funds from all sources, direct <br /> and indirect, are required to have an audit conducted in accordance with Office of Management <br /> and Budget(OMB) Revised Circular A-133"Audits of States, Local Governments, and Non-Profit <br /> Organizations." Revised OMB A-133 requires the Contractor to provide the auditor with a <br /> schedule of Federal Expenditure for the fiscal year(s) being audited. When state funds are also <br /> to be paid under this Agreement a Schedule of State Financial Assistance must also be included. <br /> Both schedules include: <br /> Grantor agency name <br /> Federal agency <br /> Federal program name <br /> Other identifying agreement numbers <br /> Catalog of Federal Domestic Assistance(CFDA) number(if applicable) <br /> Grantor agreement number <br /> Total award amount including amendments (total grant award) <br /> Beginning balance <br /> Current year revenues <br /> Current year expenditures <br /> Ending balance <br /> Program total <br /> If the Contractor is a state or local government entity, the Office of the State Auditor shall conduct <br /> the audit. Audits of non-profit organizations are to be conducted by a certified public accountant <br /> selected by the Contractor in accordance with OMB Circular A-110"Uniform Administrative <br /> Requirements for Grants and Agreements with Institutions of Higher Education, Hospitals, and <br /> Other Non-Profit Organizations." <br /> The Contractor shall include the above audit requirements in any subcontracts. <br /> In any case, the Contractor's financial records must be available for review by COMMERCE. <br /> C. Documentation Requirements <br /> The Contractor must send a copy of any required audit Reporting Package as described in OMB. <br /> Circular A-133, Part C, Section 320(c) no later than nine (9) months after the end of the <br /> Contractor's fiscal year(s)to: <br /> Department of Commerce <br /> ATTN: Audit Review and Resolution Office <br /> 1011 Plum Street SE <br /> PO Box 42525 <br /> Olympia WA 98504-2525 <br /> In addition to sending a copy of the audit, when applicable, the Contractor must include: <br /> e Corrective action plan for audit findings within three(3) months of the audit being <br /> received by COMMERCE. <br /> e Copy of the Management Letter. <br /> 7 13 <br />