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have a single or program - specific audit conducted in accordance with the provisions of OMB Circular A - 133 , as revised . EXHIBIT C to this Agreement attached hereto and made a part hereof indicates Federal resources awarded through the DEPARTMENT by this Agreement, if applicable . In determining the Federal awards expended in its fiscal year, the recipient shall consider all sources of Federal awards , including Federal resources received from the DEPARTMENT . The determination of amounts of Federal awards expended should be in accordance with the guidelines established by OMB Circular A - 133 , as revised . An audit of the recipient conducted by the Auditor General in accordance with the provisions OMB Circular A - 133 , as revised , will meet the requirements of this part . ( 3 ) In connection with the audit requirements addressed in Part 1, paragraph 1 , the recipient shall fulfill the requirements relative to auditee responsibilities as provided in Subpart C of OMB Circular A - 133 , as revised . (4) If the recipient expends less than $ 500 , 000 for fiscal years ending after December 31 , 2003 in Federal awards in its fiscal year, an audit conducted in accordance with the provisions of OMB Circular A - 133 , as revised , is not required . In the event that the recipient expends less than $ 500 , 000 for fiscal years ending after December 31 , 2003 in Federal awards in its fiscal year and elects to have an audit conducted in accordance with the provisions of OMB Circular A - 133 , as revised , the cost of the audit must be paid from non - Federal resources ( i . e . , the cost of such an audit must be paid from recipient resources obtained from other than Federal entities) . ( 5 ) Federal awards are to be identified using the Catalog of Federal Domestic Assistance (CFDA ) title and number, award number and year, and name of the awarding federal agency . PART II : STATE FUNDED ( 1 ) Recipients of state funds ( i . e . a nonstate entity as defined by Section 215 . 97(2) ( l) , Florida Statutes) are to have audits done annually using the following criteria : (2) In the event that the recipient expends a total amount of state financial assistance equal to or in excess of $ 500 , 000 for fiscal years ending on September 30 , 2004 , and thereafter 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 , Florida Statutes ; applicable rules of the Department of Financial Services and the CFO ; and Chapters 10 . 550 ( local governmental entities) or 10 . 650 (nonprofit and for-profit organizations), Rules of the Auditor General . EXHIBIT C indicates state financial assistance awarded through the DEPARTMENT by this Page 9