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DEPARTMENTAL MATTERS Their, audit has been received in September, which is beyond the 120 period outlined in the existing policy language. (See current language below). Current Language - "If an agency receives $100,000 or more from Indian River County (through all sources, e.g. General Fund, Children's Services, Tourist Tax, etc.), the agency is required to have an audit completed by an independent certified public accountant at the end of the Agency's fiscal year. Within 120 days of the end of the agency's fiscal year, the agency will submit the audit to the Indian River County Office of Management and Budget. This fiscal year will be as reported on the application for funding. Prior to any change in the fiscal period for an organization, the County shall be notified. If an Agency receives a qualified opinion from its independent auditor, this will be reported to the Board of County Commissioners and funding will cease immediately. If the Budget Office has any questions regarding a part of the financial statements, audit comments, or notes, a letter requesting clarification may be sent to the agency." Proposed Revision - "If an agency receives $100,000 or more from Indian River County (through all sources, e.g. General Fund, Children's Services, Tourist Tax, etc.), the agency is required to have an audit completed by an independent certified public accountant at the end of the Agency's fiscal year. Within 180 days of the end of the agency's fiscal year, the agency will submit the audit to the Indian River County Office of Management and Budget. The Budget Office may extend the 180 day audit submittal requirement, based upon a written request justifying the extension and if deemed to be in the best interest of the County. The extension will typically not exceed the three (3) months from the original due date. This fiscal year will be as reported on the application for funding. Prior to any change in the fiscal period for an organization, the County shall be notified. If an Agency receives a qualified opinion from its independent auditor, this will be reported to the Board of County Commissioners and funding will cease immediately. If the Budget Office has any questions regarding a part of the financial statements, audit comments, or notes, a letter requesting clarification may be sent to the agency." Amount and Term of Funding for Nonprofit Agencies Issue (Existing Language) Another issue is the Amount and Term of Funding for Individual Nonprofit Agencies. Excerpts from the current policy read as follows: A. Total Nonprofit Funding Allocation — The total amount allocated to nonprofit agencies will be adjusted as shown below. 1. The total allocation for nonprofit agencies will be capped at $256,516, which is the amount allocated for FY2001/2002. In any year up to $256,516 may be allocated to all nonprofit agencies. P128