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s <br />40 <br />4D <br />3. The Conceptual Approval Agreement by and between FCT and Recipient is <br />hereby extended until January 27, 2001. <br />4. The Conceptual Approval Agreement by and between FCT and Recipient is <br />hereby amended to add Section IX as follows: <br />IX. AUDIT REQUIREMENTS <br />1. The Recipient agrees to maintain financial procedures and support <br />documents, in accordance with generally accepted accounting principles, to account for <br />the receipt and expenditure of funds under this Agreement. <br />2. These records shall be available at all reasonable times for inspection, <br />review, or audit by state personnel and other personnel duly authorized by FCT. <br />"Reasonable" shall be construed according to circumstances, but ordinarily shall mean <br />normal business hours of 8:00 a.m. to 5:00 p.m., local time, Monday through Friday. <br />3. The Recipient shall also provide FCT with the records, reports or <br />financial <br />statements upon request for the purposes of auditing and monitoring the funds <br />awarded under this Agreement. <br />4. In the event that the Recipient expends a total amount of State financial <br />assistance from all state sources equal to or in excess of $300,000 in any fiscal year of <br />such Recipient, the Recipient must have a State single or project -specific audit for such <br />fiscal year in accordance with Section 215.97, Florida Statutes; applicable rules of the <br />Executive Office of the Governor and the Comptroller, and Chapter 10.600, Rules of <br />the Auditor General. <br />Section 1.7. above below indicates State financial assistance through FCT by <br />this Agreement. In determining the State financial assistance expended in its <br />fiscal year, the Recipient shall consider all sources of State financial assistance, <br />including State funds received from FCT, except that State financial assistance <br />received by a nonstate entity for Federal program matching requirements shall <br />be excluded from consideration. The funding for this Agreement was received <br />by FCT as a grant appropriation. <br />a. The annual financial audit report shall include all management letters <br />and <br />the Recipient's response to all findings, including corrective actions to be taken. <br />b. The annual financial audit report shall include a schedule of financial <br />assistance specifically identifying all Agreement and other revenue by <br />sponsoring agency and Agreement number. <br />CAA 3 / 98-058-P8A <br />08/23/00 Page 2 o£4 <br />