Orange County NC Website
Browse       Search
(Revised 8/16:#2,4,9,11,14,24) <br /> 24. Audit. The Agency/County agrees to have an annual independent audit in accordance with <br /> North Carolina General Statutes,North Carolina Local Government Commission requirements, <br /> Division of Aging(and Adult Services)Program Audit Guide for Aging Services and Federal <br /> Office of Budget and Management(OMB)Uniform Guidance 2 CFR Part 200. <br /> Community service providers must provide a copy of their year-end financial statements, and <br /> any required audit,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 NC General <br /> Statute 143C-6-23 and OMB Uniform Guidance 2 CFR Part 200, where applicable. NCFCSP <br /> service providers are not required to submit Activities and Accomplishments Reports. For- <br /> profit corporations are not subject to the requirements of OMB uniform Guidance 2 CFR Part <br /> 200,but are subject to NC General Statute 143C-6-23 and Yellow Book audit requirements, <br /> where applicable. <br /> Federal funds may not be used to pay for a Single or Yellow Book audit unless it a federal <br /> requirement. State funds will not be used to pay for a Single or Yellow Book audit if the <br /> provider receives less than$500,000 in state funds. The Department of Health and Human <br /> Services will provide confirmation of federal and state expenditures at the close of the state <br /> fiscal year. Information on audit and fiscal reporting requirements can be found at <br /> https://www.ncgrants.gov/NCGrants/PublicRepoitsRe ulg ations.im . <br /> The following provides a summary of reporting requirements under NCGS 143C-6-22 and 23 <br /> and OMB Uniform Guidance 2 CFR Part 20, based upon funding received and expended during <br /> the service provider's fiscal year. <br /> Annual Expenditures Report Required to AAA Allowable Cost for Reporting <br /> • Less than$25,000 in Certification form and State N/A <br /> State or Federal funds Grants Compliance Re- <br /> porting<$25,000 (item# 11, <br /> Activities and Accomplishments <br /> does not have to be completed) <br /> OR <br /> Audited Financial Statements in <br /> compliance with GAO/GAS (i.e. <br /> Yellow Book) <br /> • Greater than $25,000 Certification form and Schedule of N/A <br /> and less than$500,000 Grantee Receipts>$25,000 and <br /> in State or $750,000 Schedule of Receipts and Expendi- <br /> in Federal Funds tures <br /> OR <br /> Audited Financial Statements in <br /> compliance with GAO/GAS (i.e. <br /> Yellow Book) <br /> • $500,000+in State funds Audited Financial Statement in May use State funds, <br /> but Federal pass through compliance with GAO/GAS (i.e. but not Federal Funds <br /> 6 of 9 <br />