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Department of Community Affairs Office of Audit Services 2555 Shumard Oak Boulevard Tallahassee, Florida 32399-2100 and State of Florida Auditor General Room 401 , Claude Pepper Building 111 West Madison Street Tallahassee, Florida 32399- 1450 d. In. connection with the audit requirements addressed 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 Chapter 10 . 550 and 10 . 650, Rules of the Auditor General . e . If the Recipient expends less than $ 300 , 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 $ 300, 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 non- State funds (i . e. , the cost of such an audit must be paid from recipient funds obtained from other than State entities) . 5 . In the event the audit shows that the entire funds disbursed hereunder, or any portion thereof, were not spent in accordance with the conditions of this Agreement, the Recipient shall be held liable for reimbursement to FCT of all funds not spent in accordance with these applicable regulations and Agreement provisions within thirty (30) days after FCT has notified the Recipient of such non-compliance . 6 . The Recipient shall retain all financial records, supporting documents, statistical records, and any other documents pertinent to this contract for a period of five years after the date of submission of the final expenditures report . However, if litigation or an audit has been initiated prior to the expiration of the five-year period, the records shall be retained until the litigation or audit findings have been resolved. 7 . The Recipient shall have all audits completed in accordance with Section 215 . 97 , Florida Statutes, by an independent certified public accountant (IPA) who shall either be a certified public accountant or a public accountant licensed under Chapter 473 , Florida Statutes . The IPA shall state that the audit complied with the applicable provisions noted above. 02-05&FF2 July 17, 2003 Partial-Pre-acquired/Joint Acquisition -7-