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(6) MONITORING <br /> (a) Recipient is responsible for and shall monitor its performance under this Agreement. <br /> Recipient shall monitor the performance of its contractors, consultants, agents, and who are paid from <br /> funds provided under this Agreement or acting in furtherance of this Agreement. <br /> (b) In addition to reviews of audits conducted in accordance with Exhibit 1 —Audit <br /> Requirements, monitoring procedures may include, but not limited to, desk reviews and on-site visits by <br /> Division staff, limited scope audits, and other procedures. <br /> (7) SUBCONTRACTS <br /> If the Recipient subcontracts any of the work required under this Agreement, a copy of the unsigned <br /> subcontract must be forwarded to the Division for review and approval before it is executed by the <br /> Recipient. The Recipient agrees to include in the subcontract that(i)the subcontractor is bound by the <br /> terms of this Agreement, (ii)the subcontractor is bound by all applicable state and federal laws and <br /> regulations, and (iii)the subcontractor shall hold the Division and Recipient harmless against all claims of <br /> whatever nature arising out of the subcontractor's performance of work under this Agreement,to the <br /> extent allowed and required by law. The Recipient shall document in the quarterly report the <br /> subcontractor's progress in performing its work under this Agreement. <br /> For each subcontract, the Recipient shall provide a written statement to the Division as to whether that <br /> subcontractor is a minority business enterprise, as defined in section 288.703, Florida Statutes. <br /> (8) AUDITS <br /> (a) In accounting for the receipt and expenditure of funds under this Agreement,the <br /> Recipient shall follow Generally Accepted Accounting Principles ("GAAP"). As defined by 2 C.F.R. <br /> §200.49, GAAP"has the meaning specified in accounting standards issued by the Government <br /> Accounting Standards Board (GASB)and the Financial Accounting Standards Board (FASB)." <br /> (b) When conducting an audit of the Recipient's performance under this Agreement, the <br /> 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 <br /> auditing standards issued by the Comptroller General of the United States, which are applicable to <br /> financial audits." <br /> (c) 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 Recipient shall be held liable for reimbursement to <br /> the Division of all funds not spent in accordance with these applicable regulations and Agreement <br /> provisions within thirty(30)days after the Division has notified the Recipient of such non-compliance. <br /> (d) The Recipient shall have all audits completed by an independent auditor, which is defined <br /> in section 215.97(2)(i), Florida Statutes, as"an independent certified public accountant licensed under <br /> chapter 473." The independent auditor shall state that the audit complied with the applicable provisions <br /> 4 <br />