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agreement, if applicable . In determining the state financial assistance expended in <br /> its fiscal year, the recipient shall consider all sources of state financial assistance , <br /> including state financial assistance received from the DEPARTMENT, other state <br /> agencies , and other nonstate entities . State financial assistance does not include <br /> Federal direct or pass -through awards and resources received by a nonstate entity <br /> for Federal program matching requirements . <br /> (3 ) In connection with the audit requirements addressed in Part II , paragraph l ; the <br /> recipient shall ensure that the audit complies with the requirements of Section <br /> 215 . 97 ( 7), Florida Statutes . This includes submission of a financial reporting <br /> package as defined by Section 215 . 97 (2)(d), Florida Statutes, and Chapters 10 . 550 <br /> ( local governmental entities) or 10 . 650 (nonprofit and for - profit organizations) , <br /> Rules of the Auditor General . <br /> (4) If the recipient expends less than $ 500 , 000 in state financial assistance in its fiscal <br /> year ending on September 30 , 2004 , and thereafter, an audit conducted in <br /> accordance with the provisions of Section 215 . 97 , Florida Statutes , is not <br /> required . In the event that the recipient expends less than $ 500, 000 in state <br /> financial assistance in its fiscal year and elects to have an audit conducted in <br /> accordance with the provisions of Section 215 . 97 , Florida Statutes , the cost of the <br /> audit must be paid from the nonstate entity ' s resources ( i . e . , the cost of such an <br /> audit must be paid from the recipient ' s resources obtained from other than State <br /> entities) . <br /> ( 5 ) State awards are to be identified using the Catalog of State Financial Assistance <br /> (CSFA ) title and number, award number and year, and name of the state agency <br /> awarding it . <br /> iii) PART III : OTHER AUDIT REQUIREMENTS <br /> ( 1 ) The recipient shall follow up and take corrective action on audit findings . <br /> Preparation of a summary schedule of prior year audit findings , including <br /> corrective action and current status of the audit findings is required . Current year <br /> audit findings require corrective action and status of findings . <br /> (2) Records related to unresolved audit findings, appeals , or litigation shall be <br /> retained until the action is completed or the dispute is resolved . Access to project <br /> records and audit work papers shall be given to the DEPARTMENT, the <br /> Comptroller, and the Auditor General . This section does not limit the authority of <br /> the DEPARTMENT to conduct or arrange for the conduct of additional audits or <br /> evaluations of state financial assistance or limit the authority of any other state <br /> official . <br /> Page 10 <br />