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725-030-06 <br /> PUBLIC TRANSPORTATION <br /> OGC-12/14 <br /> Page 6 of 14 <br /> b. In connection with the audit requirements,the Agency shall ensure that the audit complies with the <br /> requirements of Section 215.97(8), Florida Statutes. This includes submission of a financial reporting <br /> package as defined by Section 215.97(2)(e), Florida Statutes, and Chapters 10.550(local governmental <br /> entities)or 10.650(nonprofit and for-profit organizations), Rules of the Auditor General. <br /> c. In the event the Agency does not meet the audit threshold requirements established by Section 215.97, <br /> Florida Statutes, the Agency is exempt for such fiscal year from the state single audit requirements of Section <br /> 215.97, Florida Statutes. However, the Agency must provide a single audit exemption statement to the <br /> Department at FDOTSingleAudit@dot.state. fl.us no later than nine months after the end of the Agency's <br /> audit period for each applicable audit year. In the event the Agency does not meet the audit threshold <br /> requirements established by Section 215.97, Florida Statutes, in a fiscal year and elects to have an audit <br /> conducted in accordance with the provisions of Section 215.97, Florida Statutes, the cost of the audit must be <br /> paid from the Agency's resources(i.e., the cost of such an audit must be paid from the Agency's resources <br /> obtained from other than State entities). <br /> d. In accordance with Chapters 10.550(local governmental entities)or 10.650(nonprofit and for-profit <br /> organizations), Rules of the Auditor General, copies of financial reporting packages required by this <br /> Agreement shall be submitted to: <br /> Florida Department of Transportation <br /> Office of Comptroller, MS 24 <br /> 605 Suwannee Street <br /> Tallahassee, Florida 32399-0405 <br /> FDOTSingleAudit@dot.state.fl.us <br /> And <br /> State of Florida Auditor General <br /> Local Government Audits/342 <br /> 111W Madison Street, Room 401 <br /> Tallahassee, FL 32399-1450 <br /> e.Any copies of financial reporting packages, reports or other information required to be submitted to the <br /> Department shall be submitted timely in accordance with Section 215.97, Florida Statutes, and Chapters <br /> 10.550(local governmental entities)or 10.650(nonprofit and for-profit organizations), Rules of the Auditor <br /> General, as applicable. <br /> f. The Agency,when submitting financial reporting packages to the Department for audits done in accordance <br /> with Chapters 10.550(local governmental entities)or 10.650(nonprofit and for-profit organizations), Rules of <br /> the Auditor General, should indicate the date the reporting package was delivered to the Agency in <br /> correspondence accompanying the reporting package. <br /> g. Upon receipt, and within six months, the Department will review the Agency's financial reporting package, <br /> including corrective action plans and management letters,to the extent necessary to determine whether <br /> timely and appropriate corrective action on all deficiencies has been taken pertaining to the state financial <br /> assistance provided through the Department by this Agreement. If the Agency fails to have an audit <br /> conducted consistent with Section 215.97, Florida Statutes, the Department may take appropriate corrective <br /> action to enforce compliance. <br /> h. As a condition of receiving state financial assistance,the Agency shall permit the Department, or its designee, <br /> DFS or the Auditor General access to the Agency's records including financial statements, the independent <br /> auditor's working papers and project records as necessary. Records related to unresolved audit findings, <br /> appeals or litigation shall be retained until the action is complete or the dispute is resolved. <br /> Page 6 of 14 50 <br />