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725-03400 PUBLIC TRANSPORTATION 00/07 3 . Copies of financial reporting packages required by Section 7 . 62 Part II of this Agreement shall be submitted by or on behalf of the recipient directly to each of the following : A. The Department at each of the following addresses : 3400 West Commercial Boulevard Fort Lauderdale , FL B . The Auditor General' s Office at the following address : Auditor General' s Office Room 401 , Pepper Building 111 West Madison Street Tallahassee , Florida 32399- 1450 4 . Copies of reports or the management letter required by Section 7 . 62 Part III of this Agreement shall be submitted by or on behalf of the recipient directly to : A . The Department at each of the following addresses : 3400 West Commercial Boulevard Fort Lauderdale , FL 5 . Any reports , management letter, or other information required to be submitted to the Department pursuant to this Agreement shall be submitted timely in accordance with OMB Circular A- 133 , Section 215 . 97 , Florida Statutes , and Chapter 10 . 550 ( local governmental entities ) or 10. 650 ( nonprofit and for-profit organizations ) , Rules of the Auditor General , as applicable . 6 Recipients . when submitting financial reporting packages to the Department for audits done in accordance with OMB Circular A- 133 or Chapters 10. 550 ( local governmental entities ) or 10. 650 ( nonprofit and for- profit organizations ) , Rules of the Auditor General , should indicate the date that the reporting package was delivered to the Agency in correspondence accompanying the reporting package . 7 .63 Record Retention : The Agency shall retain sufficient records demonstrating its compliance with the terms of this Agreement for a period of at least five years from the date the audit report is issued , and shall allow the Department, or its designee , the CFO or Auditor General access to such records upon request. The Agency shall ensure that the independent audit working papers are made available to the Department, or its designee , the CFO , or Auditor General upon request for a period of at least five years from the date the audit report is issued , unless extended in writing by the Department. 7.64 Other Requirements : If an audit discloses any significant audit findings related to any award , including material noncompliance with individual project compliance requirements or reportable conditions in internal controls of the Agency , the Agency shall submit as part of the audit package to the Department a plan for corrective action to eliminate such audit findings or a statement describing the reasons that corrective action is not necessary . The Agency shall take timely and appropriate corrective action to any audit findings , recommendations , and corrective action plans . 7.65 Insurance : Execution of this Joint Participation Agreement constitutes a certification that the Agency has and will maintain the ability to repair or replace any project equipment or facilities in the event of loss or damage due to any accident or casualty for the useful life of such equipment or facilities . In the event of the loss of such equipment or facilities , the Agency shall either replace the equipment or facilities or reimburse the Department to the extent of its interest in the lost equipment or facility . In the event this Agreement is for purchase of land or for the construction of infrastructure such as airport runways the Department may waive or modify this section . Page 6 o114