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Page 5 of 7 <br />Director <br />North Carolina Division of Aging <br />2101 Mail Service Center <br />693 Palmer Drive <br />Raleigh, North Carolina 27699-2101 <br />24. Audit and Audit/Assessment Resolutions and Disallowed Costs. The Agency agrees to have an <br />annual independent audit in accordance with North Carolina General Statutes, North Carolina <br />Local GovernmenYCommission requirements, Division of Aging and Adult Services.Program Audit <br />Guide for Aging Services and Federal Office of Budget and Management (OMB) Circular A-133. <br />Community service providers must provide a copy of their audit and/or. year -end financial <br />statements to the Area Agency on Aging. Community service providers, as specified in paragraph <br />one (1) are subject to audit and fiscal reporting requirements as stated in 2003 revisions to OMB <br />Circular A-133 and NC General Statute 143-5.7, where applicable. Home and Community Care <br />.Block Grant providers are not required to submit Activities arid Accomplishments Reports. For- <br />profit corporations are not subject to the requirements of OMB Circular A-133, buf are subject to <br />Yellow Book audit requirements.- Federal funds may not be used to pay for a Single or Yellow <br />Book audit unless it a federat requirement. State funds will not be used to pay for a Single or <br />Yellow Book audit if the provider receives less than $300,000 in state funds. The Department of <br />Health and Human Services will provide confirmation of federal and state expenditures at the close <br />of the state fiscal year. Informafion on audit and fiscal reporting requirements can be found at <br />http://www.ncauditor.netlwebproject/default.asp?nonprofit. Particular attention should be given to: <br />• Audit Advisory # 2: Rewrite of G.S.143-5.1 <br />• Memorandum NGO-1: "Grantee Receipt and Expenditure Reports" <br />• Memorandum NGO-2: "Grantee Audit Reports" <br />Memorandum NGO-3: "Questions and Answers" Page 6 of 7 <br />The following provides a summary of reporting requirements under NCGS 143-5.1 and OMB <br />Circular A-133 based upon funding received and expended during the service provider's fiscal <br />year. <br />Annual Expenditures Report Required Funds Allowed for Cost of Audit <br />• Less than $25,000 Certification-and Not Allowed <br />In State & Federal State Grant Compliance <br />Funds OR Audited Financial <br /> Statements in <br /> Compliance with GAO/GAS <br /> (i.e. Yellovr Book) <br />• $25,000 - $500,000 Certification and Schedule Not Allowed <br />In State & Federal Of Grantee Receipts> $25,000 <br />- funds Or more and Schedule of <br /> Receipts and Expenditures <br /> OR Audited Financial <br /> Statements in compliance <br /> With GAO/GAS (i.e. Yellow Book) <br />• $500,000+ in State Audited Financial Statements May use State funds but NOT <br />funds AND Federal in compliance with GAO/GAS Federal funds <br />through funds in an (i.e. Yellow Book) <br />amount less than <br />$500,000 <br />F-~ <br />