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(f) AUDIT REQUIREMENTS (a ) The Recipient agrees to maintain financial procedures and support documents, in accordance with generally accepted accounting principles, to account for the receipt and expenditure of funds under this Agreement. (b) These records shall be available at all reasonable times for inspection , review, or audit by state personnel and other personnel duly authorized by the Department. "Reasonable" shall be construed according to circumstances, but ordinarily shall mean normal business hours of 8 : 00 a.m . to 5: 00 p . m . , local time , Monday through Friday. (c) The Recipient shall also provide the Department with the records, reports or financial statements upon request for the purposes of auditing and monitoring the funds awarded under this Agreement. (d ) If the Recipient is a nonstate entity as defined by Section 215 .97 , Fla . Stat. , it shall comply with the following : In the event that the Recipient expends a total amount of State financial assistance equal to or in excess of $500, 000 in any fiscal year of such Recipient, the Recipient must have a State single or project-specific audit for such fiscal year in accordance with Section 215. 97 , Fla. Stat. ; applicable rules of the Executive Office of the Governor and the Chief Financial Officer; and Chapters 10.550 ( local government entities) or 10 . 650 (nonprofit and for-profit organizations), Rules of the Auditor General . EXHIBIT 1 to this Agreement indicates State financial assistance awarded through the Department by this Agreement. In determining the State financial assistance expended in its fiscal year, the Recipient shall consider all sources of State financial assistance , including State funds received from the Department, other state agencies , and other nonstate entities . State financial assistance does not include Federal direct or pass-through awards and resources received by a nonstate entity for Federal program matching requirements. In connection with the audit requirements addressed in this Paragraph 6 (d ) above , the Recipient shall ensure that the audit complies with the requirements of Section 215 . 97(7) , Fla . Stat. This includes submission of a reporting package as defined by Section 215.97(2)(d ) , Fla . Stat. and Chapters 10 . 550 (local governmental entities ) or 10. 650 (nonprofit and for-profit organizations ), Rules of the Auditor General . If the Recipient expends less than $500,000 in State financial assistance in its fiscal year, an audit conducted in accordance with the provisions of Section 215.97, Fla . Stat, is not required . In the event that the Recipient expends less than $500 ,000 in state financial assistance in its fiscal year and elects to have an audit conducted in accordance with the provisions of Section 215.97, Fla . Stat , the cost of the audit must be paid from the nonstate entity's resources (i . e . , the cost of such an audit must be paid from the Recipient's resources obtained from other than State entities) . Additional 3