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(6) AUDIT REQUIREMENTS (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 reasonable times for inspection , review , or audit by state personnel and other personnel authorized by the Department or the Division . "Reasonable " shall ordinarily mean normal business hours of 8 : 00 a . m . to 5 : 00 p . m . , local time , Monday through Friday . (c) The Recipient shall 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 State or local government or a non - profit organization as defined in OMB Circular A- 133 , as revised , and in the event that the Recipient expends $500 , 000 or more in Federal awards in its fiscal year, the Recipient must have a single or program -specific audit conducted in accordance with the provisions of OMB Circular A- 133 , as revised . EXHIBIT 1 to this Agreement shows the Federal resources awarded through the Division by this Agreement . In determining the Federal awards expended in its fiscal year, the Recipient shall consider all sources of Federal awards , including Federal resources received from the Division . The determination of amounts of Federal awards expended should be in accordance with the guidelines established by OMB Circular A- 133 , as revised . An audit of the Recipient conducted by the Auditor General in accordance with the provisions of OMB Circular A- 133 , as revised , will meet the requirements of this paragraph . In connection with the audit requirements addressed in this Paragraph 6 (d) above , the Recipient shall fulfill the iequirernenis for auditee responsibilities as provided in Subpart C of OMB Circular A- 133 , as revised . If the Recipient expends less than $500 , 000 in Federal awards in its fiscal year, an audit conducted in accordance with the provisions of OMB Circular A- 133 , as revised , is not required . In the event that the Recipient expends less than $500 , 000 in Federal awards in its fiscal year and chooses to have an audit conducted in accordance with the provisions of OMB Circular A- 133 , as revised , the cost of the audit must be paid from non- Federal funds . (e) Send copies of reporting packages for audits conducted in accordance with OMB Circular A- 133 , as revised , and required by subparagraph (d) above , when required by Section . 320 (d) , OMB Circular A- 133 , as revised , by or on behalf of the Recipient to : The Division at each of the following addresses : Department of Community Affairs Office of Audit Services 2555 Shumard Oak Boulevard