|
725-070-06
<br /> PUBLIC TRANSPORTATION
<br /> 00/07
<br /> 7 .61 Monitoring : In addition to reviews of audits conducted in accordance with OMB Circular A- 133 and Section
<br /> 215 . 97 , Florida Statutes , ( see "Audits" below) , monitoring procedures may include, but not be limited to , on-site visits by
<br /> Department staff, limited scope audits as defined by OMB Circular A- 133 , andlor other procedures . The Agency agrees
<br /> to comply and cooperate fully with any monitoring procedures/processes deemed appropriate by the Department. In the
<br /> event the Department determines that a limited scope audit of the Agency is appropriate, the Agency agrees to comply
<br /> with any additional instructions provided by the Department staff to the Agency regarding such audit. The Agency further
<br /> agrees to comply and cooperate with any inspections , reviews , investigations , or audits deemed necessary by FDOT's
<br /> Office of Inspector General (OIG ) and Florida's Chief Financial Officer (CFO ) or Auditor General .
<br /> 7.62 Audits :
<br /> Part 1 Federally Funded : If the Agency is a state , local government, or non-profit organizations as defined in OMB
<br /> Circular A- 133 and a recipient of federal funds , the following annual audit criteria will apply :
<br /> 1 . In the event that the recipient expends $500, 000 or more in Federal awards in its fiscal year, the recipient must
<br /> have a single or program-specific audit conducted in accordance with the provisions of OMB Circular A- 133 , as revised .
<br /> Exhibit " D" to this agreement indicates Federal resources awarded through the Department by this agreement. In
<br /> determining the Federal awards expended in its fiscal year, the recipient shall consider all sources of Federal awards ,
<br /> including Federal resources received from the Department. The determination of amounts of Federal awards expended
<br /> should be in accordance with the guidelines established by OMB Circular A- 133 , as revised . An audit of the recipient
<br /> conducted by the Auditor General in accordance with the provisions OMB Circular A- 133, as revised , will meet the
<br /> requirements of this part .
<br /> 2 . In connection with the audit requirements addressed in Part I , Paragraph 1 . , the recipient shall fulfill the
<br /> requirements relative to auditee responsibilities as provided in Subpart C of OMB Circular A- 133.
<br /> 3 . If the recipient expends less than the amount in Part I , Paragraph 1 . , an audit conducted in accordance with the
<br /> provisions of OMB Circular A- 133 , is not required . If the recipient elects to conduct such an audit, the cost of the audit
<br /> must be paid from resources obtained from other than Federal entities .
<br /> 4 . Federal awards are to be identified using the Catalog of Federal Domestic Assistance (CFDA ) title and number,
<br /> award number and year, and name of the awarding federal agency .
<br /> Part II State Funded : If the Agency is a nonstate entity as defined by Section 215 . 97 ( 2) ( m) , Florida Statutes , and
<br /> a recipient of state funds , the following annual audit criteria will apply :
<br /> 1 . In the event that the recipient expends a total amount of state financial assistance equal to or in excess of $500 ,
<br /> 000 in any fiscal year , the recipient must have a State single or project-specific audit for such fiscal year in accordance
<br /> with Section 215 . 97 , Florida Statutes ; applicable rules of the Department of Financial Services and the CFO ; and Chapters
<br /> 10. 550 ( local governmental entities ) or 10. 650 ( nonprofit and for-profit organizations) , Rules of the Auditor General .
<br /> Exhibit " D" to this agreement indicates state financial assistance awarded through the Department by this agreement . In
<br /> determining the state financial assistance expended in its fiscal year, the recipient shall consider all sources of state
<br /> financial assistance , including state financial assistance received from the Department, other state agencies , and other
<br /> nonstate entities . State financial assistance does not include Federal direct or pass-through awards and resources
<br /> received by a nonstate entity for Federal program matching requirements .
<br /> 2 . In connection with the audit requirements addressed in Part II , Paragraph 1 . , the recipient shall ensure that the
<br /> audit complies with the requirements of Section 215. 97 (7) , Florida Statutes . This includes submission of a financial
<br /> reporting package as defined by Section 215 . 97( 2) ( e), Florida Statutes , and Chapter 10 . 550 ( local governmental entities)
<br /> or 10 .650 ( nonprofit and for-profit organizations ), Rules of the Auditor General ,
<br /> 3 . If the recipient expends less than the amount in Part Il , Paragraph 1 . , such audit is not required . If the recipient
<br /> elects to conduct such an audit , the cost of the audit must be paid from the recipient's resources obtained from nonstate
<br /> entities .
<br /> 4. State awards are to be identified using the Catalog of State Financial Assistance (CSFA) title and number,
<br /> award number and year, and name of the state agency awarding it.
<br /> Page 4 of 14
<br />
|