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(4) If the recipient expends less than $ 500 , 000 in state financial assistance in its fiscal year ending on September 30 , 2004 , and thereafter, an audit conducted in accordance with the provisions of Section 215 . 97 , Florida Statutes , 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 , Florida Statutes , 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) . ( 5 ) State awards are to be identified using the Catalog of State Financial Assistance (CSFA) title and number, award number and year, and name of the state agency awarding it . iii) PART III : OTHER AUDIT REQUIREMENTS ( 1 ) The recipient shall follow up and take corrective action on audit findings . Preparation of a summary schedule of prior year audit findings , including corrective action and current status of the audit findings is required . Current year audit findings require corrective action and status of findings . (2) Records related to unresolved audit findings , appeals , or litigation shall be retained until the action is completed or the dispute is resolved . Access to project records and audit work papers shall be given to the FDOT, the Comptroller, and the Auditor General . This section does not limit the authority of the Department to conduct or arrange for the conduct of additional audits or evaluations of state financial assistance or limit the authority of any other state official . iv) PART IV : REPORT SUBMISSION ( 1 ) Copies of reporting packages for audits conducted in accordance with OMB Circular A- 133 , as revised , and required by PART I of this agreement shall be submitted , when required by Section . 320 (d) , OMB Circular A - 133 , as revised , by or on behalf of the recipient directly to each of the following : Florida Department of Transportation , 3400 W . Commercial Blvd . Ft. Lauderdale, FL 33309 Karen Maxon , District Single Audit Liaison (2) The Federal Audit Clearinghouse designated in OMB Circular A- 133 , as revised (the number of copies required by Sections . 320 (d) ( 1 ) and (2) , OMB Circular A- 1335 as revised , should be submitted to the Federal Audit Clearinghouse) , at the following address : Federal Audit Clearinghouse Bureau of the Census 1201 East 10 `" Street Jeffersonville , IN 47132 Page 8 of 13