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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 60114 <br />