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to document the use of the Grant funds for at least three (3) years after the expiration <br /> of the Grant Period. The County shall have access to all booka, reoondm, and <br /> documents as required in this Section for the purpose of inspection or audit during <br /> normal business hours at the County's expense, upon five (5) days prior written <br /> notice. <br /> 5.2 Compliance with Laws. The Recipient shall comply at all times with all applicable <br /> federal, state, and Ioc'al laws, rules, and regulations. <br /> 5.3 Audit Requirements. If Recipient receives $100,000 or more in the aggregate from <br /> all Indian River County government funding sources, the Recipient is required to have <br /> an audit completed by an independent certified public accountant at the end of the <br /> Recipient's fiscal year. Within 180 days of the end of the Recipient's fiscal year, the <br /> Recipient shall submit the audit to the Indian River County Office of Management and <br /> Budget. The fiscal year will be as reported on the application for funding, and the <br /> Recipient agrees to notify the County prior to any change in the fiscal period of <br /> Recipient. The Recipient acknowledges that the County may deny funding to any <br /> Recipient if an audit required by this Contract for a prior fiscal year is past due and has <br /> not been submitted by May 1. <br /> 5.3.1 The Recipient further acknowledges that, promptly upon receipt of a qualified <br /> opinion from their independent a dibzr such qualified opinion shall immediately be <br /> provided to the Indian River County Office of Manament and Budget. The qualified <br /> opinion shall thereupon be reported to the Board of County Commissioners and <br /> funding under this Contract will cease immediately. The foregoing termination right is <br /> in addition to any other right of the County to terminate this Contract. <br /> 5.3.2 The Indian River County Office of Management and Budget reserves the right <br /> at any time to send a letter to the Recipient requesting clarification if there are any <br /> questions regarding a part of the financial statements, audit comments, or notes. <br /> 5.4 Insurance Requirements. Recipient shall, no later than October 1, 2017, provide <br /> to the Indian River County Risk Management Division a certificate or certificates <br /> issued by an insurer or insurers authorized to conduct business in Florida that is rated <br /> not less than category A-: VII by A.M. Best, subject to approval by Indian River <br /> County's risk manager, of the following types and amounts of insurance: <br /> (i) Commercial General Liability Insurance in an amount not less than <br /> $1.000.000 combined single limit for bodily injury and property dameQe, <br /> including coverage for pnamioembpeneUonm, products/completed operations, <br /> contractual liability, and independent contractors; <br /> (ii) Business Auto Liability Insurance in an amount not less than $1.000.000 <br /> per occurrence combined single limit for bodily injury and property damege, <br /> including coverage for owned autos and other vehicles, hired autos and other <br /> vehicles, non-owned autos and other vehicles; and <br /> (iii) Workers' Compensation and Employer's Liability (current Florida statutory <br /> limit) <br /> (iv) In the event that children are supervised, Sexual Molestation Liability <br /> Insurance in an amount not less than$1,000,000 each occurrence/claim. <br /> 5.5 Insurance Administration. The insurance uarhfioateo, evidencing all required <br /> insurance coverages shall be fully acceptable to County in both form and content, <br /> - EXHIBIT B- <br />