Fort Walton Beach Resolution — 2010-38 - grant funding for reuse water project — reading text

project- specific audit for such fiscal year in accordance with Section 215. 97, Florida Statutes ( the Single Audit Act); applicable rules of the Executive Office of the Governor and the Chief Financial Officer, and Chapter 10. 650, Rules of the Auditor General. In determining the State financial assistance expended in its fiscal year, Contractor shall consider all sources of State awards, including State funds received from EFI, except that State financial assistance received by a nonstate entity for Federal program matching requirements shall be excluded from consideration. The CSFA number for Contractor is 31. 003, Rural Community Development is 31. 008, Local Economic Development Initiatives is 31. 027, Military Base Protection is 31. 044, and International Business Advocacy is 31. 046. 2. In connection with the audit requirements, Contractor shall ensure that the audit complies with the requirements of Section 215. 97( 8), Florida Statutes. This includes submission of a reporting package as defined by Section 215. 97( 2) Florida Statutes, and Chapter 10. 650, Rules of the Auditor General. 3. If Contractor expends less than $ 500, 000 in State financial assistance in its fiscal year, an audit conducted in accordance with the provisions of the Single Audit Act is not required. In the event that Contractor expends less than $ 500, 000 in State financial assistance in its fiscal year and elects to have an audit conducted in accordance with the provisions of the Single Audit Act, the cost of the audit must be paid from non- State funds ( i.e., the cost of such an audit must be paid from Contractor funds obtained from other than State entities). 4. Contractor must include the record keeping requirements found herein in subrecipient contracts and subcontracts entered into by Contractor for work required under terms of this Agreement. In the executed subcontract, Contractor shall provide each subrecipient of state financial assistance the information needed by the subrecipient to comply with the requirements of the Single Audit Act. Pursuant to Section 215. 97( 7), Florida Statutes, Contractor shall review and monitor subrecipient audit reports and perform other procedures as specified in the agreement with the subrecipient, which may include onsite visits. Contractor shall require subrecipients, as a condition of receiving state financial assistance, to permit the independent auditor of the recipient, the state awarding agency, the Chief Financial Officer, the Chief Inspector General, Page 11 of 12  and the Auditor General access to the subrecipient's records and independent auditor' s working papers as necessary to comply with the requirements of the Single Audit Act. 5. For information regarding the Florida Single Audit Act, including the Florida Catalog of State Financial Assistance ( CFSA), the recipient should access the website for the Governor' s Office located at httcs:/Iac sJldfs. com/ fsaa/ cataloQ. ascx for assistance. REPORT SUBMISSION Copies of audit reports conducted in accordance with the audit requirements contained herein shall be submitted to the parties set out below. The annual financial audit report shall include all management letters and Contractor' s response to all findings, including corrective actions to be taken. The annual financial audit report shall include a schedule of financial assistance specifically identifying all Agreement and other revenue by sponsoring agency and Agreement number. The complete financial audit report, including all items specified above, shall be sent directly to: Pamela Murphy Enterprise Florida, Inc. 800 No. Magnolia Ave., Suite 1100 Orlando, Florida 33756 and Elizabeth Walker Office of Tourism, Trade, and Economic Development The Capitol, Suite 1902 Tallahassee, Florida 32399 - 0001 DIGmm101906 Page 12 of 12