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725.030-06 <br /> PUBLIC TRANSPORTATION <br /> 06/03 <br /> Page 4 of 12 <br /> 7. 61 Federal Audit: In the event the Agency expends a total of $300 ,000 or more in Federal awards in its fiscal <br /> year, the Agency must. have a single or program-specific audit conducted in accordance with the provisions of OMB <br /> Circular A- 133 . Federal awards are to be identified using the Catalog of Federal Domestic Assistance (CFDA) title and <br /> number, award number and year, and name of the awarding Federal agency . If the Agency expends less than $300 ,000 , <br /> this audit is not required and if the Agency elects to have an audit conducted in accordance with the provisions of OMB <br /> Circular A- 133 , the cost of the audit must be paid from non - Federal funds . <br /> The Agency agrees to allow the Department or an independent auditor of the Department, the State Comptroller, and <br /> the Auditor General access to the Agency's records and financial statements as may be necessary for complying with <br /> the requirements of 31 U . S . C . 7501 et seq . <br /> Pursuant to OMB Circular A- 133 , Subpart C , . 320 (d ) , the Agency shall provide a copy of the reporting package and any <br /> management letters to the Department, or copies of audit reports for audits conducted in accordance with OMB Circular <br /> A- 133 , to the Department and to : <br /> Federal Audit Clearinghouse <br /> Bureau of the Census <br /> 1201 East 10th Street <br /> Jeffersonville , IN 47132 <br /> 7 .62 State Audit: In the event that the Agency expends a total of $300 , 000 or more in State awards in its fiscal <br /> year, the Agency must have a State single or project-specific audit for such fiscal year in accordance with Section <br /> 215 . 97 , Florida Statutes and the applicable rules of the Executive Office of the Governor, the State Comptroller, and the <br /> Auditor General . In determining the State awards expended in its fiscal year, the Agency shall consider all sources of <br /> State awards except State awards received for Federal program matching requirements which shall be excluded from <br /> consideration . State awards will be identified using the Catalog of State Financial Assistance (CSFA) title and number, <br /> award number and year, and name of the awarding State agency. If the Agency expends less than $300 , 000 , this audit <br /> is not required and if the Agency elects to have an audit conducted in accordance with the provisions of Section 215 . 97 , <br /> F . S . , the cost of the audit must be paid from non -State funds . <br /> The Agency agrees to allow the Department, the State Comptroller, and the Auditor General access to records and <br /> independent auditor's working papers , as necessary for complying with the requirements of Section 215 . 97 , F . S . <br /> The Agency shall provide annual financial reporting package of audits prepared in accordance with Section 215 . 97 , <br /> F . S . , and applicable Rules of the Auditor General to the Department and to : <br /> State of Florida Auditor General <br /> Room 574 , Claude Pepper Building <br /> 111 West Madison Street <br /> Tallahassee , Florida 32302 - 1450 <br /> 7 . 63 Other Requirements : If an audit discloses any significant audit findings relating to any award , including <br /> material noncompliance with individual project compliance requirements or reportable conditions in internal controls of <br /> the Agency, the Agency shall submit as part of the audit package to the Department a plan for corrective action to <br /> eliminate such audit findings or a statement describing the reasons that corrective action is not necessary. The Agency <br /> shall take timely and appropriate corrective action to any audit findings , recommendations , and corrective action plans . <br />