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! 1 For State Funds ? (a) The Recipient agrees to maintain financial procedures and support documents, in accordance with generally accepted accounting principles, to account for the receipt and expenditure of funds under this Agreement . (b) These records shall be available at all reasonable times for inspection, review, or audit by state personnel and other personnel duly authorized by the Department . " Reasonable " shall be construed according to circumstances , but ordinarily shall mean normal business hours of 8 : 00 a. m . to 5 : 00 p . m . , local time , Monday through Friday . (c) The Recipient shall also provide the Department with the records , reports or financial statements upon request for the purposes of auditing and monitoring the funds awarded under this Agreement . (d) If the Recipient is a nonstate entity as defined by Section 215 . 97 , Florida Stntut . s , it shall comply with the following : In the event that the Recipient expends a total amount of State financial assistance equal to or in excess of $ 500 , 000 in any fiscal year of such Recipient, the Recipient must have a State single or project- specific audit for such fiscal year in accordance with Section 215 . 97 , Florida Statist . s ; applicable rules of the Executive Office of the Governor and the Comptroller ; and Chapters 10 . 550 (local government entities) or 10 . 650 (nonprofit and for-profit organizations) , Rules of the Auditor General . EXHIBIT 1 to this Agreement indicates State financial assistance awarded through the Department by this Agreement . In determining the State financial assistance expended in its fiscal year, the Recipient shall consider all sources of State financial assistance , including State funds received from the Department, other state agencies , and other nonstate entities . State financial assistance does not include Federal direct or pass-through awards and resources received by a nonstate entity for Federal program matching requirements . In connection with the audit requirements addressed in this Paragraph 6 (d) above , the Recipient shall ensure that the audit complies with the requirements of Section 215 . 97 (7) , Florida Statutes - This includes submission of a reporting package as defined by Section 215 . 97 (2 ) (d) , Florida Statutes, and Chapters 10 . 550 (local governmental entities) or 10 . 650 (nonprofit and for- profit organizations) , Rules of the Auditor General . If the Recipient expends less than $ 500 , 000 in State financial assistance in its fiscal year, an audit conducted in accordance with the provisions of Section 215 . 97 , Florida Statutes , is not required . In the event that the Recipient expends less than $ 500 , 000 in state financial assistance in its fiscal year and elects to have an audit conducted in accordance with the provisions of Section 215 . 97 , Florida Statutes , the cost of the audit must be paid from the nonstate entity ' s resources (i . e . , the cost of such an audit must be paid from the Recipient ' s resources obtained from other than State entities . Additional information on the Florida Single Audit Act may be found at the 6