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Page 6 of 9 <br />23. Audit and AudlUAssessment Resolutions and Disallowed Costs. The Agency agrees to have <br />an annual independent audR In accordance with North Carolina Generel Statutes, North <br />Carolina Local Gbvemment Commission requirements, Division of Aging and Adult Services <br />Progrem Audit Guide for Aging Services and Federel Office of Budget and Management <br />(OMB) Circular A-133. <br />Community service provldera 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 <br />paragraph one (1) are subject to audit and fiscal reporting requirements as stated in 2003 <br />revisions to OMB Circular A-133 and NC General Statute 143-0.1, where applicable. Home <br />and Communlly'.Care Block Grent provldera are not required to submit ActivlDes and <br />Accomplishments Reports. For-profd corporetions are not subject to the requirements of <br />OMB Circular A-133, but ere subject to Yellow Book audit requirements. Federal funds may <br />not be used to pay for a Single or Yellow Book audit unless It a federal requirement. State <br />funds will not be ,used to pay for a Single or Yellow Book audit if the provider receNee less <br />than $300,000 in.stete funds. The Department of Health and Human Services will provide <br />confirmation of federal end state expenditures at the close of the state fiscal year. <br />Information on audit and fiscal reporting requirements can be found at <br />http://www.ncauditor.netiwebpro]ect/default.aap?nonprofit. Particular atten0on should be <br />given lo: <br />Audit Advisory # 2: Rewrite of G.S. 143-6.1 <br />• Memorandum NGO-1: " Grantee Receipt and Expenditure Reports" <br />• Memorenttum NGO-2: " Grentea Audit Reports' <br />• Memorentlum NGO-3: " Questions end Answers" Pape 8 of 7 <br />The following provides a summary of reporting requirements under NCGS 143-6.1 <br />and OMB Circular A-133 based upon funding received and expended during the service <br />provider' a fiscal year. <br />Annual Expenditures Report Required Funds Allowed <br />for Coat of Audit <br />6 Less than $25,000 Certlflcetton and <br />In State 8 Federal State Grent Compliance Not Allowed <br />Funds OR Audited Financial <br />Statements In <br />Compliance with GAOi0A3 <br />(Le. Yellow Book) <br />~S $25,00 - $500,000 CertMication and Schedule Not Allowed <br />In State & Federal Of Grantee Recelpte > $25,000 <br />funds Or more and Schedule of <br />Receipts end Expenditures <br />F -3 <br />