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A TRUE COPY <br />CERTIFICATION ON LAST PAGE <br />J.R. SMITH, CLERK <br />b. In accounting for the receipt and expenditure of funds under this Agreement, the Sub - <br />Recipient shall follow Generally Accepted Accounting Principles ("GAAP"). As defined by 2 C.F.R. §200.49, <br />GAAP "has the meaning specified in accounting standards issued by the Government Accounting <br />Standards Board (GASB) and the Financial Accounting Standards Board (FASB)." <br />c. When conducting an audit of the Sub -Recipient's performance under this Agreement, <br />the Division shall use Generally Accepted Government Auditing Standards ("GAGAS"). As defined by 2 <br />C.F.R. §200.50, GAGAS, "also known as the Yellow Book, means generally accepted government auditing <br />standards issued by the Comptroller General of the United States, which are applicable to financial audits." <br />d. If an audit shows that all or any portion of the funds disbursed were not spent in <br />accordance with the conditions of this Agreement, the Sub -Recipient shall be held liable for reimbursement <br />to the Division of all funds not spent in accordance with these applicable regulations and Agreement <br />provisions within thirty days after the Division has notified the Sub -Recipient of such non-compliance. <br />e. The Sub -Recipient shall have all audits completed by an independent auditor, which is <br />defined in section 215.97(2)(i), Florida Statutes, as "an independent certified public accountant licensed <br />under chapter 473." The independent auditor shall state that the audit complied with the applicable <br />provisions noted above. The audit must be received by the Division no later than nine months from the end <br />of the Sub -Recipient's fiscal year. <br />f. The Sub -Recipient shall send copies of reporting packages for audits conducted in <br />accordance with 2 C.F.R. Part 200, by or on behalf of the Sub -Recipient, to the Division at the following <br />address: <br />DEMSingle_Audit@em.myflorida.com <br />OR <br />Office of the Inspector General <br />2555 Shumard Oak Boulevard <br />Tallahassee, Florida 32399-2100 <br />g. The Sub -Recipient shall send the Single Audit reporting package and Form SF -SAC <br />to the Federal Audit Clearinghouse by submission online at: <br />http://harvester.census.gov/fac/collect/ddeindex. html <br />h. The Sub -Recipient shall send any management letter issued by the auditor to the <br />Division at the following address: <br />DEMSingle_Audit@em.myflorida.com <br />OR <br />Office of the Inspector General <br />2555 Shumard Oak Boulevard <br />Tallahassee, Florida 32399-2100 <br />If <br />