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EXHIBIT " C " <br /> FEDERAL AND/OR STATE FUNDED CONTRACTS <br /> The administration of resources awarded by the Department to INDIAN RIVER COUNTY may be <br /> subject to audits and/or monitoring by the Department , as described in this section . <br /> MONITORING <br /> In addition to reviews of audits conducted in accordance with OMB Circular A - 133 and Section <br /> 215 . 97 , F . S . , as revised (see "AUDITS " below) , monitoring procedures may include , but not be limited <br /> to , on -site visits by Department staff, limited scope audits as defined by OMB Circular A - 133 , as <br /> revised , and/or other procedures . By entering into this agreement , the recipient agrees to comply and <br /> cooperate fully with any monitoring procedures/processes deemed appropriate by the Department . In <br /> the event the Department determines that a limited scope audit of the recipient is appropriate , the <br /> recipient agrees to comply with any additional instructions provided by the Department staff to INDIAN <br /> RIVER COUNTY regarding such audit . INDIAN RIVER COUNTY further agrees to comply and <br /> cooperate with any inspections , reviews , investigations , or audits deemed necessary by the FDOT ' s <br /> Office of Inspector General (OIG ) and Florida ' s Chief Financial Officer ( CFO) or Auditor General , <br /> AUDITS <br /> PART I : FEDERALLY FUNDED <br /> Recipients of federal funds ( i . e . state , local government , or non - profit organizations as defined in OMB <br /> Circular A- 133 , as revised ) are to have audits done annually using the following criteria : <br /> 1 . In the event that the recipient expends $500 , 000 or more in Federal awards in its fiscal year, <br /> the recipient must have a single or program -specific audit conducted in accordance with the <br /> provisions of OMB Circular A- 133 , as revised . This agreement indicates Federal resources <br /> awarded through the Department by this agreement . In determining the Federal awards <br /> expended in its fiscal year, the recipient shall consider all sources of Federal awards , including <br /> Federal resources received from the Department . The determination of amounts of Federal <br /> awards expended should be in accordance with the guidelines established by OMB Circular A- <br /> 133 , as revised . An audit of the recipient conducted by the Auditor General in accordance with <br /> the provisions OMB Circular A- 133 , as revised , will meet the requirements of this part . <br /> 2 . In connection with the audit requirements addressed in Part I , paragraph 1 . , the recipient shall <br /> fulfill the requirements relative to auditee responsibilities as provided in Subpart C of OMB <br /> Circular A- 133 , as revised . <br /> 3 . If the recipient expends less than $500 , 000 in Federal awards in its fiscal year, an audit <br /> conducted in accordance with the provisions of OMB Circular A- 133 , as revised , is not <br /> required . However, if the recipient elects to have an audit conducted in accordance with the <br /> provisions of OMB Circular A- 133 , as revised , the cost of the audit must be paid from non - <br /> Federal resources ( i . e . , the cost of such an audit must be paid from recipient resources <br /> obtained from other than Federal entities) . <br /> 4 . Federal awards are to be identified using the Catalog of Federal Domestic Assistance (CFDA) <br /> title and number , award number and year, and name of the awarding federal agency . <br /> Page 10 <br />