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Page <br /> <br /> must be clearly and separately stated. At a minimum, the <br /> audit should include an accountant's opinion, a balance sheet, <br /> a statement of revenues, expenditures, and fund balance, <br /> certification of the n,,mher of units of service actually <br /> provided and do6umented by the Agency, a unit cost analysis <br /> for each service, and a management letter. Upon completion <br /> of the Project audit, the Agency shall deliver to the Council <br /> a copy of the audit and any management letter accompanying the <br /> same. Furthermore, non-profit corporations or organizations <br /> receivfng funds under this contract of $1,000 or more and not <br /> exempted by Section l(d) of GS 159-40, are req~/ired to file <br /> a copy of the independent audit report with the Office of the <br /> State, Auditor. <br /> <br />23. Audit .Resolution....and..Disal~owed Costs. In the event the <br /> Council or the North Carolina Division of Aging disallows any <br /> expenditure of grant funds made by the Agency for any reason, <br /> the Agency shall promptly reimburse such funds to the Council. <br /> The Council may also withhold future payments under this or <br /> any other contract with the Agency until the audit exceptions <br /> are cleared. <br /> <br />24. Indemnity and Insurance. The Agency agrees to indemnify and <br /> save harmless the Council, its agents and employees from and <br /> against any and all loss, cost, damages, expense and liability <br /> caused by the failure of the Agency to fully perform its <br /> obligation under this agreement and in accordance with its <br /> terms; or by an accident or other occurrence causing bodily <br /> injury, including death, sickness and disease to any person; <br /> or damage or destruction to property, real or personal, which <br /> may arise from operations, products or services rendered under <br /> this contract. <br /> <br /> The Agency, at its own expense, shall procure and maintain for <br /> the duration of this contract, the following policies of <br /> insurance. <br /> <br /> (a) Automobile bodily injury and property damage liability <br /> covering all owned, non-owned, and hired automobiles for <br /> limits of not less than $250,000 each person, $500,000 each <br /> occurrence bodily injury liability and $250,000 .each <br /> occurrence property damage liability. If the Agency is funded <br /> to provide transportation services, then insurance to cover <br /> up to $2,000 in medical payments shall also be required. (b) <br /> Comprehensive ~General Liability including coverage for <br /> personal injury hazards A, B, and C, products and completed <br /> operations and contractual liability assumed under the <br /> indemnity provision of this contract for limits of not less <br /> than $500,000 bodily injury liability each <br /> occurrence/aggregate and $250,000 property damage liability <br /> each occurrence/aggregate. (c) Workers Compensation ~and <br /> Occupational Disease Insurance meeting the statutory <br /> requirements of the State of North Carolina and employers' <br /> liability insurance for an amount of not less than $100,000. <br /> (d) If the Agency, with the permission of the Council, <br /> subcpntracts any of the work or services under this contract, <br /> <br /> <br />