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Contract # (Contractor) Attachmont L Notice of Certain Reporting and Audit Requirements ~'aagtesFQ al~co enllenceth thle reiquireman s of 8 N4C IA.C a Subchapterh M 0205 tars set fortlhl~i nthis Attachment, #ADVp20OSb001rNorth C rolglna Oene el St tute143.8 2 ant fled "Use ftState Funds by NonVState Entitles" and Implementation of Required Rules, 09 NCAC 03M .0102 -D802, North Carolina Administrative Code, issued September 20D5. The Office of State Auditor's Audit Advisory #ADV-2005- 001, fomts and additlonalpoiicy statements era available on the State Audhor's Internet web site at www ncauditar.net. From the home page select "Non Profits," Seled the "Regulations" tab for the standards and the "Forms" tab to download forms as needed. The Cotrtrector's flsaal year runs from July 1 to June 30. Reporting Thresholds Thera are three reporting thresholds established for grentees and subgrantees receiving State funds. The reporting thresholds are; (NOTE, threshold is based an total of state grants flurn all state entltiss.) (1) Less than $25,000 - A grantee that receives, uses, or expends State funds In an amount teas than twenty-five thausend dollars ($26,000) within Its first fiscal year must comply with the reporting requirements established by 9 N,C.A.C. Subchapter 3M including: (A) Slate fu dtsaweremrelceivedyused ror expendedafodr the purposes fortwhich they ware granted; and (B) An .accounting of the State funds receved, used, or expended. All reporting requirements shall be filed wikh the funding agency withln six months after the end of the grantee's fiscal year in which the State funds were received. (2) am5ount opat east twenty fl er thousand ($25,000)ua d up t ptlveshundred thou and dollars ($500,000) within Its fiscal year must comply with the reporting requirements established by this Subchapter Including: (A) 8ta a funds werem eoeived, used ortexpended for thenpurpases fortlvAtichathey were granted. (6) An' accounting of the State funds received, used, or expended; and (C) A descrption of adivfties and accomplishments undertaken by the grantee whh the State funds. All reporting requirements shall be flied with the funding agency withln six months after the end of the grantee's fiscal year In which the State funds were received. (3) Greater than $500,000 • A grentee that receives, uses, or expends State funds and in the amount greater than flue huhdred thousand dollars ($500,000) within Its fiscal year must comply with the repoding requirements established by this Subchapier including: (A) State fu dtsow rem elcae ea used ontexpended for tltenpurposes fortwhichathey were granted. (B) the grantee oansisten with the reporting req Irement cif this Subchapteruand t for (C) A description of acthdties and accomplishments undertaken by the grantee with the State funds. DHHS (11/OS) ~~